Command Economies

An economy where the government owns and controls everything. For example, they control the means of production, prices, and industries as a whole.

Command economies typically employ socialism, which is an economic theory that promotes production and industry through high government involvement.

Look to Sweden as an example.

Sweden is classified as a socialist economy due to its high levels of government involvement in various aspects. Specifically, it falls under the category of a “welfare state”, or a country where the government takes an active role in promoting the health and well-being of its citizens, through economic means (social programs), medical means (universal healthcare), and more.

In Sweden, there are comprehensive social programs provided to citizens. Some of these include universal healthcare to all citizens, free college education to all, and subsidized housing for those who need it.