This article was published in the leading Czech journal of economics named “Politicka Ekonomie” in 1967 that is during the process of Economic Reform intended to change the Soviet-type Command Economy in a sort of Market Socialism. It was curious that while the need to revive the market...

For some time Marxist economists believed that central planning as applied in the Soviet-type economies could prevent cyclical fluctuation. This view, however changed, when in 1960’s it became quite obvious, that some type of cycle is generated in centrally planned economies as well. Because...