Organisational Requirements of a Socialist Economy: Theoretical and Practical Suggestions

Michael Dietrich

Cambridge Journal of Economics, 1986, vol. 10, issue 4, 319-32

Abstract: This article argues that theoretical and practical difficulties exist in the socialist economic organization literature a nd suggests how the problems can be overcome. In uncertain, non-steady-state conditions, any economy is an amalgam of control systems. Planning, informal, autonomous, and instrumental systems are identified in the paper via a critique of Walrasian theory. Practical suggestions apply developments in corporate planning, particularly strategic business units. This allows socialist economic organizational efficiency to marry strategic and operating matters. The importance of informal economic relationships is also stressed. Copyright 1986 by Oxford University Press.

Date: 1986
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