Economy of East Germany

Economy Of East Germany

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 East Germany:  Central Planning, State Industrial Sector, Agriculture

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Economy Of East Germany - Private Sector - Informal Economic Activity - Corruption
... Another common activity that was troublesome if not disruptive was the practice of offering a sum of money beyond the selling price to individuals selling desirable goods, or giving something special as partial payment for products in short supply, the so-called Bückware (duck goods sold from "below the counter") ... Such ventures may have been no more than offering someone Trinkgeld (a tip), but they may have also involved Schmiergeld (bribes lit ...

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