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Socialist Investment Cycles - Analysis in Retrospect (Paperback, Softcover reprint of the original 1st ed. 1992)
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Socialist Investment Cycles - Analysis in Retrospect (Paperback, Softcover reprint of the original 1st ed. 1992)
Series: International Studies in Economics and Econometrics, 27
Expected to ship within 10 - 15 working days
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The entire world was taken by surprise when 1990 brought an end to
Soviet communism in Europe and thus a genuine end to World War II.
The fact that these developments surprised not only the leaders and
the people of the countries concerned, but also scholars is an
extraordinary challenge to the students of Soviet-type economics.
In the academic world, where predictive force is one of the key
indicators of a successful theory, this weak performance calls into
question the validity of earlier findings and interpretations.
Something was wrong in the general framework. Socialist Investment
Cycles offers an explanation of this failure. Socialist Investment
Cycles is the first monograph in English on investment fluctuations
in planned economies, a chapter in history. While providing a broad
overview of the literature on socialist investment cycles, as well
as a quantitative description of the actual processes, the author
puts forth a new framework for understanding investment
fluctuations. In this framework socialist planners were able to
adjust the volume of investments without risking the fulfillment of
politically more sensitive target variables. Socialist Investment
Cycles encompasses all thirty-five countries which were ruled by
communism and is the first study to penetrate deeply into the data
problem, country by country, and series by series. Socialist
Investment Cycles has been written after the collapse of
Soviet-type communism in Eastern Europe, the USSR, and the
countries of Asia and Africa. It thus offers a retrospective view
on both the theory and practice of socialist economies.
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