As Russia's first president following the dissolution of the USSR, Yeltsin famously transformed its infamous state
socialist economy into a capitalist economy.
From these considerations, it will be seen that public ownership, nationalisation, or socialisation of the means of production, exchange, and distribution is inevitable in a
socialist economy,
She claimed it is a
socialist economy with Chinese characteristics, but not everything is state-controlled, and that it is actually "mixed, very dynamic, and open."
India literally moved from a closed
socialist economy, to an open, capitalist one in the space of months.
By providing the rebels with modern weapons, the US was 'giving to the USSR its Vietnam war,' according to Brzezinski: a progressively expensive war, a strain on the
socialist economy and an erosion of their authority abroad.
After the Korean War (1950-1953), Kim Il Sung proposed the main course for building
socialist economy based on developing light industries and agriculture simultaneously while giving priority to developing heavy industries, which resulted in finishing reconstruction after the war within 3 years, and turning the DPRK into an industrial state within 14 years.
He said developing the
socialist economy would "deal a telling blow to the hostile forces who go with bloodshot eyes miscalculating that sanctions can bring the DPRK to its knees," the report said, using the acronym for the North's official name.
In a letter to a national conference of propaganda officials held in Pyongyang earlier this week, Kim stressed the need to concentrate all efforts on building a "
socialist economy.
North Korean dictator Kim Jong Un seems intent on copying the liberal Vietnam economic growth model -- and not the more authoritarian China model -- in a determined bid to open his country's crippled
socialist economy to the world.
The former deputy Labour Party leader is expected to tell Jeremy Corbyn to "put out of his mind all the outdated nonsense about a
socialist economy being impossible in Europe".
China, predominately a
socialist economy, came up with the idea of the socialist market economy to progress by leaps and bounds.
"The consistent and purposeful economic policy pursued in the past 15 years has ensured the completion of the transformation from planned
socialist economy to market economy in Azerbaijan," he said.