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Command-Based Economies: Mexico And The United Kingdom

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- Mexico and the United Kingdom both had major command based economies. Command based economies is centrally planned and controlled by the government. One example of it is PEMEX. PEMEX is a state-owned petroleum company in Mexico which has been nationalized because of oil. The government also owned railroads and telecommunications and other businesses such as steel and sugar mills which has been also nationalized before. Another policy that caused the Mexico to have a command based economy is the I.S.I which is a strategy for economic development that employs high taxes on imports to protect locally produced goods from foreign competition. Two liberal reforms that put an end to them were GATT and NAFTA. This is because it is the end of the
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