Central planning led to little economic growth and consistently low standards of living.

Name: Central planning led to little economic growth and consistently low standards of living.
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Question

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Central planning is known for its inefficiencies and limitations in generating economic growth and improving standards of living. This was evident in many countries within the Soviet bloc during the Cold War era, where centrally planned economies struggled to keep up with the standards of living in capitalist societies.

Central Planning Led to Little Economic Growth and Consistently Low