This essay originated from the discussions of the role of central plan in an economic system with a functioning market mechanism. Such discussions emerged because of the implementation of the 'New Economic System'in Czechoslovakia. Under the old system, the role of the plan was considered clear...

We use a set of established growth models, which simultaneously include human capital and R&D, to show that the effect of mortality rate in human capital accumulation is quantitatively more important than the effect of perfectly guaranteed patents on research. First, we show that the effect of...

This paper was presented at the Belgrade conference for one hundred years anniversary of 'Das Kapital'. Marx himself said very little about the concrete organization of a socialist economy. His general remarks about socialism were 'elaborated' by his followers by inference from Marx's criticism...

This short paper was presented in the discussion at the CESES conference about 'the Prices in Eastern Europe' in Florence, Italy, 1966. Its purpose was to formulate briefly but as precisely as possible the differences between Pure Market Economy, Command Economy, Lange-Lerner model of Market...

We consider a small open Harris-Todaro (1970) economy complementing global exposure, informal labour training and the urban unemployment. Workers acquire skills through apprenticeship training in the urban informal sector. The informal employers are motivated to train the apprentices by the...

This paper investigates claims that fundamental policy changes aiming to disengage the state from the economy do not provide appropriate discourse for a new government in a newly democratised state. This view has a lot of support among Stalinist-Marxist scholars who believe that unmaking a...

Using a novel data set from post-communist countries in the 1990s, this paper examines linkages between political constraints, economic reforms and growth. A dynamic panel analysis suggests public support for reform is negatively associated with income inequality and unemployment. Both the ex...

This is a paper presented at the East-West economic conference in Plovdiv, Bulgaria, 1964. The paper outlines the main features of price policy in the Soviet-type socialist system of Eastern Europe. All the prices were centrally fixed, with the main aim to achieve planned standard of living for...