centralized planning
[/ˈsentrəlaɪzd ˈplænɪŋ/]
noun
planejamento centralizado
1. An economic system in which a central government authority makes decisions about production, distribution, and consumption of goods and services for the entire economy
The Soviet Union relied heavily on centralized planning to allocate resources across all industries.
A União Soviética dependia fortemente do planejamento centralizado para alocar recursos em todas as indústrias.
2. The practice of organizing and coordinating economic activities through a single central authority rather than through market mechanisms
Centralized planning often determines production quotas and prices without market forces.
O planejamento centralizado frequentemente determina cotas de produção e preços sem forças de mercado.
This term is primarily used in economic, political science, and historical discussions, particularly when analyzing communist or socialist economies. In Brazil and Portugal, it appears frequently in academic texts and political debates comparing different economic systems. It carries historical significance due to its association with Cold War-era economic models.
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