Prices and Profits

J. Wilczynski
Additional contact information
J. Wilczynski: Royal Military College of Australia

Chapter 4 in Profit, Risk and Incentives under Socialist Economic Planning, 1973, pp 81-109 from Palgrave Macmillan

Abstract: Abstract An indispensable condition for enterprise profit to be indicative of efficiency is that prices must be rational, in the sense of reflecting cost-preference relations. This has hardly been the case in the Socialist countries, and certainly it was not so before the economic reforms. In each country price determination was highly centralized — it was vested in the hands of the Council of Ministers and the State Price Planning Commission.

Keywords: Producer Price; Price System; Price Determination; Socialist Country; Retail Prex (search for similar items in EconPapers)
Date: 1973
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-01442-2_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349014422

DOI: 10.1007/978-1-349-01442-2_4

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().