Capital Formation and its Efficiency

J. Wilczynski

Chapter 10 in Socialist Economic Development and Reforms, 1972, pp 165-188 from Palgrave Macmillan

Abstract: Abstract Socialist thinking and policy have traditionally been dominated by the postulate of a high level of accumulation.1 This attitude was particularly strong under centralized planning and management when high proportions of savings were considered to be both necessary and possible. It was generally assumed that high rates of economic growth were feasible only if supported by high and rising investment rates. There was a prevalent conviction that the output of producer goods should grow at a faster rate than that of consumer goods. In other words, it was assumed that economic progress could be achieved only by a growing capital—output ratio. Yet, owing to the Cold War and ideological considerations and pride, Socialist countries (except to a minor extent Yugoslavia) could not obtain economic aid from the developed Capitalist nations.

Keywords: National Income; Investment Project; Socialist Economy; Capital Formation; German Democratic Republic (search for similar items in EconPapers)
Date: 1972
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:978-1-349-01255-8_10

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349012558

DOI: 10.1007/978-1-349-01255-8_10

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 ().