Achievements and Crisis

Makoto Itoh
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Makoto Itoh: University of Tokyo

Chapter 6 in Political Economy for Socialism, 1995, pp 160-175 from Palgrave Macmillan

Abstract: Abstract The Soviet economy from the time of the first five year plan of 1928, the post-Second World War Eastern European economies, and the Chinese socialist economy of the 1950s and 1960s, were all generally characterised as centrally planned economies. In order to make clear the causes and the significance of the failure of the centrally planned socialist economies we have to review their economic system and their basic conditions of functioning.

Keywords: Socialist Economy; Capitalist Economy; Cultural Revolution; Capitalist World; Capitalist Country (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24018-0_6

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DOI: 10.1007/978-1-349-24018-0_6

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