Plan, Market and Banking

Jan Kregel

Chapter 12 in The Evolution of Economic Systems, 1990, pp 133-140 from Palgrave Macmillan

Abstract: Abstract The twentieth century has witnessed periodic revivals of discussion of the relation of the market mechanism to centralised economic planning. These discussions, usually restricted to pure theory, have concluded that there is no basic difference between ‘market’ and ‘plan’, because the central planner could always replicate the basic features of the Walrasian ‘auctioneer’ in the market mechanism, adjusting prices to eliminate excess demands.

Keywords: Central Bank; Socialist Economy; Market Mechanism; Deposit Insurance; Private Bank (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11153-4_12

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DOI: 10.1007/978-1-349-11153-4_12

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