Page "Marxism–Leninism" Paragraph 3

The Marxist-Leninist state utilizes a state socialist economy, based on scientific planning and democratic consensus.

It supports public ownership and organisation of the economy through the abolition of private ownership of land and the means of production, which become common property utilised by the people through the state.

In the past, it typically replaced the role of market in the capitalist economy with centralized state management of the economy, which is known as a command economy.

However in recent decades an alternative Marxist-Leninist economy that exists is the Socialist market economy that has been used by the People's Republic of China, Socialist Republic of Vietnam and historically by the People's Republic of Hungary and the Socialist Federal Republic of Yugoslavia.