Original language | English |
---|---|
Title of host publication | Sociology of Work |
Subtitle of host publication | An Encyclopedia |
Editors | Vicki Smith |
Publisher | SAGE Publishing |
Pages | 104-107 |
DOIs | |
State | Published - Jun 2013 |
Abstract (may include machine translation)
In market economies, decisions about production, pricing, distribution, and investment are made by private owners of capital and are motivated by profit maximization. In command economies, by contrast, the state owns all productive assets and controls and directs the economy