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Slovakia has a rich and complex history, but until now there has
not been a comprehensive analysis of the nation's economic thought.
This volume expertly fills this gap and traces the development of
Slovak economic thought from the sixteenth century to the present
day. Identifying key themes, moments, and thinkers, the chapters in
this work consider the evolution of Slovak economic ideas and
explores the nation's place alongside other schools of thought.
Significant coverage is given to the economists Gregorius
Berzeviczy and Imrich Karvas, as well as landmark periods such as
the creation of Czechoslovakia, the World Wars, the Socialist
regime, and post-Communist Slovakia. This book is of interest to
advanced students and researchers of the history of economic
thought, economic history, and political economy, as well as those
with a specific interest in the history of Slovakia.
This book addresses the comparative history of economic thought in
Central European countries where there is a notable common historic
heritage and political traits. The author explores issues of
Central European identity, Habsburgian and Soviet influence, and
nationalistic traditions, and reveals commonalities between Czech,
Hungarian, Polish and Slovak economic thought: such similarities
proceed to explain aspects of contemporary economic and social
policies in these countries. This book aims to highlight
connections among Central European economists and will be of
interest to economists, economic historians, sociologists and
historians.
This book addresses the comparative history of economic thought in
Central European countries where there is a notable common historic
heritage and political traits. The author explores issues of
Central European identity, Habsburgian and Soviet influence, and
nationalistic traditions, and reveals commonalities between Czech,
Hungarian, Polish and Slovak economic thought: such similarities
proceed to explain aspects of contemporary economic and social
policies in these countries. This book aims to highlight
connections among Central European economists and will be of
interest to economists, economic historians, sociologists and
historians.
This volume examines concepts of central planning, a cornerstone of
political economy in Soviet-type societies. It revolves around the
theory of "optimal planning" which promised a profound
modernization of Stalinist-style verbal planning. Encouraged by
cybernetic dreams in the 1950s and supporting the strategic goals
of communist leaders in the Cold War, optimal planners offered the
ruling elites a panacea for the recurrent crises of the planned
economy. Simultaneously, their planning projects conveyed the pride
of rational management and scientific superiority over the West.
The authors trace the rise and fall of the research program in the
communist era in eight countries of Eastern Europe, including the
Soviet Union, and China, describing why the mission of optimization
was doomed to fail and why the failure was nevertheless very slow.
The theorists of optimal planning contributed to the rehabilitation
of mathematical culture in economic research in the communist
countries, and thus, to a neoclassical turn in economics all over
the ex-communist world). However, because they have not rejected
optimal planning as "computopia," there is a large space left
behind for future generations to experiment with Big Optimal Plans
anew-based, at this time, on artificial intelligence and machine
learning.
This edited volume opening the new series Revisiting Communism:
Collectivist Economic Thought in Historical Perspective focuses on
the concepts of ownership, the cornerstone of political economy in
Soviet-type societies. The authors' main objective is to contribute
to the still unwritten chapter on collectivism in the history books
of modern economic thought. They trace the lengthy evolution of
economic ideas of property reform under communism leading from the
doctrine of blanket nationalization to projects of moderate
privatization in eight countries of Eastern Europe and China. The
comparative analysis sheds light upon the tireless attempts of
reform-minded economists in communist countries to populate the no
man's land of "social property" with quasi-private economic actors
such as bodies of workers' self-management and managers of
state-owned companies. For a long time, these were expected to
crowd out the communist nomenklatura from its actual ownership
position without challenging the primacy of collective property
rights. The fact that even the most radical reformers came to the
conclusion that such surrogate owners would not be able to break
the power of the ruling elite only on the eve of the 1989
revolutions demonstrates the immense strength of collectivist
ideas. The authors coin the term "trap of collectivism" to warn
those demanding nationalization or other forms of non-private
ownership today: it is rather easy, even with the best intentions,
to walk into this trap but it may take long decades to break out
from it.
This book deals with exchange rate arrangements and exchange rate
policies. Chapter 2 classifies exchange rates into flexible,
intermediate and rigid arrangements. The book is subdivided into an
arrangement of free float, managed float, pegged but adjustable,
target zone, crawling peg, hard peg, currency board, dollarisation,
and monetary union. This chapter also discusses hypothesis of
vanishing intermediate exchange rate arrangements as well as it
deals with differentiation between de jure, and de facto exchange
rate arrangements. Chapter 3 deals with the issue of choosing an
appropriate exchange rate arrangement. The book briefly
characterises basic approaches of how to choose an exchange rate
regime. Furthermore, the book reviews considerations stemming from
the optimum currency area literature. Chapter 4 deals with problems
of exchange rate, which were encountered by the most developed
transition countries. After discussing the initial stabilisation
problems of the early 1990s, it provides a general overview of the
macroeconomic situation and exchange rates arrangements in these
countries in the period 1990-2004. Also the book discusses issues
connected with the future introduction of the euro into these
countries. Chapter 5 provides the reader with two case studies.
First, a discussion of the Czech experience in the transition
period till the crisis in May 1997 is presented. Second, a
discussion of the Hungarian experience concerning banking and
exchange rate policy in the 1990s till the early years of this
century. Finally, Chapter 6 discusses different historical periods
from the viewpoint of currency arrangements.
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