Market Forces in Planned Economies Proceedings of a Conference held
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Market Forces in Planned Economies Proceedings of a Conference held by the International Economic Association in Moscow, USSR Edited by
Oleg T. Bogomolov
M
MACMILLAN
in association with the Palgrave Macmillan
© International Economic Association 1990 Softcover reprint of the hardcover 1st edition 1990 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 33-4 Alfred Place, London WC1E 7DP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published 1990 Published by MACMILLAN ACADEMIC AND PROFESSIONAL LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world British Library Cataloguing in Publication Data Market forces in planned economies: proceedings of a conference held by the International Economic Association in Moscow, USSR. 1, Planned economies. Role of free economies 1. Bogomolov, Oleg T. II. International Economic Association 330.12/4 ISBN 978-1-349-11559-4 (eBook) ISBN 978-1-349-11561-7 DOI 10.1007/978-1-349-11559-4
Contents The International Economic Association
ix
Acknowledgements List of Participants
xi xii
Abbreviations and Acronyms
xvi
Introduction
Oleg Bogomolov
xix
PART I THE THEORY OF MARKETS IN A PLANNED ECONOMY 1 The Market in the Socialist Economic System Leonid Abalkin
3
2 Product Market and Capital Market in the Light of the Experience of the Hungarian New Economic Mechanism Wfodzimierz Brus and Kazimierz Laski
16
3 The Affinity Between Ownership and Coordination Mechanisms Janos Kornai
32
Comment Aleksander M. Vacic
55
Comment Pekka Sutela
68
Comment Don Patin kin
72
v
Contents
VI
PART II
THE NEW CONCEPT OF PLANNING: INTERACTION WITH MARKETS
4 The New Concept of Planning: Interaction With Markets Zdzistaw L. Sadowski
77
5 The New Concept of Planning : Duality with Market Forces Michael Kaser
86
Note on Yugoslavia Dragomir Vojnic Comment Laszlo Csaba PART III
95 103
COST DETERMINATION AND PRICE FORMATION
6 Reform of the Sovi
