Socialist Experience and Ota Sik’s Third Way

Jiří Kosta

Chapter 16 in The Evolution of Economic Systems, 1990, pp 177-185 from Palgrave Macmillan

Abstract: Abstract The first post-war publications of Ota Sik were influenced by the traditional Marxist doctrines of the Stalin era, although at that time some independent ideas emerged (Sik, 1953, 1955a, 1955b). However, before long, his work was characterised by critical accents. Already in 1957, he questioned the dogma according to which only the party knows the objective interests of all workers and only its policies can meet these needs. Every highly centralised planning system, Sik says, burdens the decision-makers with unconquerable information problems, which make an effective ex ante planning questionable from the onset. The existing conflicts in group interests and the information problem indicate that a decentralisation of the centrally controlled economic system is just as important as a stronger use of material incentives (Sik, 1957).

Keywords: Market Mechanism; Objective Interest; Socialist Economic System; Profit Incentive; Capitalist Market Economy (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_16

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DOI: 10.1007/978-1-349-11153-4_16

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