A major difference between the economic
systems of the United States and the former Soviet Union
was that in the Soviet Union:
self-interest was eliminated.
economic coordination relied heavily on the market
a system of central planning
determined what goods would be produced.
self-interest, though never completely
eliminated, was gradually being replaced with pure
Economic coordination in the former
Soviet Union was most heavily based on:
property rights and the invisible hand
of the market.
the replacement of self-interest with
direction and regulation by the government.
tradition, custom, and habit.