It may have served the same function, but it didn't do it as well.
And if GE, say, messes us on jet engines, well, there's always Rolls-Royce. If the central planners mess up, you don't have an alternative.
And if GE, say, messes us on jet engines, well, there's always Rolls-Royce. If the central planners mess up, you don't have an alternative.
Just think of Mig and Sukhoi, for a simple example. Or NPO-Saturn and Tumansky, if you prefer jet-engine manufacturers.
You might want to read up on Khruschev's corn farming plans, Gorbachev's prohibition, Mao's backyard furnaces and many more. Slightly tangent, check on Trofim Lysenko's anti-genetics antics. USSR style socialism explicitly declared ideology over science, engineering and what not. And by ideology they meant whatever The Great Leader says.
There's no reason to believe it wouldn't be viable today.