Analysis of information sources in references of the Wikipedia article "Socialist economics" in English language version.
Socialism, you see, is a bird with two wings. The definition is 'social ownership and democratic control of the instruments and means of production.'
In the early 1950s all states with a ruling Communist Party had adopted a homogeneous economic mechanism - thet of the USSR. [...] By 1951 each of the seven states ruled by Communist Parties in Europe [...] had adopted five- (or six-) year plans on the Soviet model with similar apparatus for their implementation, notably nationalisation of industry, transport and trade, compulsory procurement in farming (collectivisation had, however, only barely begun) and the monopolisation of foreign trade.
A society may be defined as socialist if the major part of the means of production of goods and services is in some sense socially owned and operated, by state, socialized or cooperative enterprises. The practical issues of socialism comprise the relationships between management and workforce within the enterprise, the interrelationships between production units (plan versus markets), and, if the state owns and operates any part of the economy, who controls it and how.
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