Volkseigener Betrieb

From MicroWiki, the micronational encyclopædia
Jump to: navigation, search

The Collectively owned enterprise (ger. Volkseigener Betrieb), shortened to VEB, is the fundamental economic framework and legal form of enterprise in the Pangavian People's Democratic Republic.

Collectively owned enterprises represent the realization of collectivization in socialist societies. All production is planned and carried out in cooperation of the "leading personnel" (managers and similar functions) and workers according to articles 17 and 18 of the Constitution of the PPDR.

History

Collectively owned enterprises, specifically Volkseigene Betriebe, have been utilized in numerous historical socialist countries, i.e. the German Democratic Republic, the USSR or the People's Republic of China.