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Socialist Economies in Transition

Appraisals of the Market Mechanism

Format: Hardback
Publisher: Edward Elgar Publishing Ltd, Cheltenham, United Kingdom
Published: 18th Sep 1992
Dimensions: w 156mm h 234mm
Weight: 395g
ISBN-10: 1852784385
ISBN-13: 9781852784386
Barcode No: 9781852784386
The revolutionary changes of 1989 have seen most of the centrally planned economies finalizing a long process of discarding the restraints of planning. These changes involve economic moves to decentralize economic decision-making, introduce market mechanisms and privatize state-owned property. A central thesis of this book is that an uncritical acceptance of the market mechanism will not lead to greater efficiency or increased output. Rather, it may result in more economic problems. The economic reform movement is critically evaluated by economists from a number of different countries. They provide a critique of the standard neo-classical position which has been used to justify the reforms. The book offers an alternative route to economic reform based on Post-Keynesian and Kaleckian traditions, that combines both individual diversity as well as control over key sectors to maintain an acceptable level of economic stability and growth.

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