Indicative planningIndicative planning is a form of economic planning implemented by a state in an effort to solve the problem of imperfect information in market economies by coordination of private and public investment through forecasts and output targets. The resulting plans aim to supply economically valuable information as a public good that the market by itself cannot disseminate, or where forward markets are nonexistent. However, indicative planning takes only endogenous market uncertainty into account, plans the economy accordingly, and does not look into exogenous uncertainty like technology, foreign trade, etc.
Takis FotopoulosTakis Fotopoulos (Τάκης Φωτόπουλος, born 1940) is a Greek political philosopher, economist and writer who founded the Inclusive Democracy movement, aiming at a synthesis of classical democracy with libertarian socialism and the radical currents in the new social movements. He is an academic, and has written many books and over 900 articles,. He is the editor of The International Journal of Inclusive Democracy (which succeeded Democracy & Nature) and is the author of Towards An Inclusive Democracy (1997) in which the foundations of the Inclusive Democracy project were set.
Material balance planningMaterial balances are a method of economic planning where material supplies are accounted for in natural units (as opposed to using monetary accounting) and used to balance the supply of available inputs with targeted outputs. Material balancing involves taking a survey of the available inputs and raw materials in an economy and then using a balance sheet to balance the inputs with output targets specified by industry to achieve a balance between supply and demand.
Project CybersynProject Cybersyn was a Chilean project from 1971 to 1973 during the presidency of Salvador Allende aimed at constructing a distributed decision support system to aid in the management of the national economy. The project consisted of four modules: an economic simulator, custom software to check factory performance, an operations room, and a national network of telex machines that were linked to one mainframe computer.
Administrative-command systemThe administrative-command system (Administrativno-komandnaya sistema), also known as the command-administrative system, is the system of management of an economy of a state characterized by the rigid centralization of economic planning and distribution of goods, based on the state ownership of the means of production and carried out by the governmental and communist party bureaucracies ("nomenklatura") in the absence of a market economy. The term is used to describe the economy of the Soviet Union and the economies of the Soviet Bloc which closely followed the Soviet model.
Input–output modelIn economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies. Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model. Francois Quesnay had developed a cruder version of this technique called Tableau économique, and Léon Walras's work Elements of Pure Economics on general equilibrium theory also was a forerunner and made a generalization of Leontief's seminal concept.
Factor marketIn economics, a factor market is a market where factors of production are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc. Firms buy productive resources in return for making factor payments at factor prices. The interaction between product and factor markets involves the principle of derived demand. A firm’s factors of production are gotten from its economic activities of supplying goods or services to another market.
Subjective theory of valueThe subjective theory of value is an economic theory for explaining how the value of goods and services are not only set but also how they can fluctuate over time. Its development helped to better understand human action and decision making in economics. The theory follows that the value of any good is not determined by the inherent property of the good, nor by the cumulative value of components or labour needed to produce or manufacture it, but instead is determined by the individuals or entities who are buying or selling the object in question.
