Economy of The German Democratic Republic

Economy Of The German Democratic Republic

Like other states which were members of the Comecon, the German Democratic Republic (GDR – East Germany) had a centrally planned economy (CPE) similar to the one in the former Soviet Union, in contrast to the market economies or mixed economies of capitalist states. The state established production targets and prices, and allocated resources, codifying these decisions in a comprehensive plan or a set thereof. The means of production were almost entirely state-owned. The East German economy was the Soviet Bloc's largest economy and one of the most stable economies in the Communist World until the early 1990s when Communism was brought to collapse, and finally the disintegration of the Soviet Union in 1991.

Read more about Economy Of The German Democratic Republic:  Central Planning, State Industrial Sector, Agriculture

Famous quotes containing the words economy of, economy, german, democratic and/or republic:

    Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.
    Ralph Waldo Emerson (1803–1882)

    Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.
    Ralph Waldo Emerson (1803–1882)

    Everything ponderous, viscous, and solemnly clumsy, all long- winded and boring types of style are developed in profuse variety among Germans—forgive me the fact that even Goethe’s prose, in its mixture of stiffness and elegance, is no exception, being a reflection of the “good old time” to which it belongs, and a reflection of German taste at a time when there still was a “German taste”Ma rococo taste in moribus et artibus.
    Friedrich Nietzsche (1844–1900)

    In his comprehensive delight in all experience Dickens resembles Walt Whitman, but he was innocent of that nebulous transcendentalism that blurred Whitman’s universe into vast misty panoramas and left him, for all his huge democratic vistas, unable to tell a story or paint a single concrete human being.
    Edgar Johnson (1912–1990)

    I date the end of the old republic and the birth of the empire to the invention, in the late thirties, of air conditioning. Before air conditioning, Washington was deserted from mid-June to September.... But after air conditioning and the Second World War arrived, more or less at the same time, Congress sits and sits while the presidents—or at least their staffs—never stop making mischief.
    Gore Vidal (b. 1925)