What type of economy did 1984 have and how does this compare to our modern day economy?

The economy
of  was
controlled by a small group of government officials. As in the
Soviet Union
of the 1940s, all major economic activity was centrally planned. There was a
free
market for minor goods and services among the impoverished proles, but
all the important
industries and agricultural enterprises were owned and
controlled by the state. In our modern
economy, we have, in contrast, free
enterprise, choosing to privatize many of our goods and
services and to allow
people to compete for market share. However, we also have a mixed economy,
in
which some sectors are run by the government, such as the armed
services. 

A society in which the state owns the means of
production is socialist. In theory,
this means all the profits from an
enterprise are distributed among the people, leading to
greater general
prosperity, but in the case of Oceania, the benefits flow only to a tiny
group
of Inner Party members. Most of the money that could make life better
for people in Oceania
is...