Economy of East Germany

East Germany had a command economy, similar to the economic system in the Soviet Union and other Comecon member states — in contrast to the market economies or mixed economies of capitalist states. The state established production targets, set prices, and also allocated resources, codifying these decisions in comprehensive plans. The means of production were almost entirely state-owned.

Economy of East Germany

East Germany had a command economy, similar to the economic system in the Soviet Union and other Comecon member states — in contrast to the market economies or mixed economies of capitalist states. The state established production targets, set prices, and also allocated resources, codifying these decisions in comprehensive plans. The means of production were almost entirely state-owned.