Feasible Financial Innovation Under Market Socialism

Domenico Mario Nuti ()
Additional contact information
Domenico Mario Nuti: University of Rome

Chapter 9 in Collected Works of Domenico Mario Nuti, Volume I, 2023, pp 189-221 from Palgrave Macmillan

Abstract: Abstract Over the last 30 years centrally planned economies, also known as Soviet-type or socialist economies or as instances of realized socialism, have often undertaken and to some extent implemented reform projects for the progressive expansion of the scope of markets at the expense of direct central allocation. From Yugoslavia to China, from Hungary to Poland and the Soviet Union, none of these economies with the possible exception of Albania has escaped this process; the very frequency of reform attempts indicates both the necessity and difficulty of changing the principles of operation of socialist planning, rather than simply introducing marginal improvements. Reform projects have included varying degrees of enterprise decisional autonomy, contractual relations instead of central allocation of materials and foreign exchange, direct access to foreign trade, workers’ self-management, and reprivatization.

Date: 2023
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:stuchp:978-3-031-12334-4_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9783031123344

DOI: 10.1007/978-3-031-12334-4_9

Access Statistics for this chapter

More chapters in Studies in Economic Transition from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().