Question

Whose contribution is economic planning?

• A. French Revolution
• B. Russian Revolution
• C. American Revolution
• D. All of these

Hint:

Associate the major revolutions with their key ideas: American \(\rightarrow\) Democracy, Liberty; French \(\rightarrow\) Liberty, Equality, Fraternity; Russian \(\rightarrow\) Communism, Centralized Economic Planning.

Answer 1

The Correct Option is B

Step 1: Understanding the Concept:
The question asks about the historical origin of the concept of centralized economic planning as a state policy.

Step 2: Detailed Explanation:
The concept of a centrally planned economy, where the government makes all decisions about the production and distribution of goods, was a hallmark of the communist system established in the Soviet Union after the Russian Revolution of 1917. The Soviet government, under leaders like Lenin and later Stalin, implemented a series of Five-Year Plans starting in 1928. These plans set ambitious goals for industrialization and collectivization of agriculture, with the state controlling all economic resources. This model of economic planning was a major contribution of the Soviet experiment and was later adopted by other communist countries.

Step 3: Final Answer:
Economic planning as a system of state control is a contribution of the Russian Revolution.