Property, markets and money

Article Abstract:

There are two preconditions for the transformation of a centrally planned economy into a market economy. First, property rights must be transferred from the state to individuals, households, firms and voluntary associations. Secondly, a stable monetary and financial system must be established to allow allocation of resources for priority economic activities. For the transformation to proceed, price deregulation and decentralization of decision-making must be instituted. However, these reforms may increase budget deficit and inflation mainly because of inadequate privatization, lack of financing and inappropriate tax measures.

Economic indicators

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The political economy of transition to the market

Article Abstract:

The uniqueness of the Soviet Union's transition from a centrally planned to a market economy indicates a glaring lack of theories that can assist in decion-making processes. Further, central authorities are more involved in the development of economic relations than primary economic agents. Minimization of political influence will require that political agencies arise from within and serve the interests of a market system. Transition will also mean the step-by-step elimination of the old by the free market and limiting political intervention in the allocation and distribution functions.

Political aspects, Perestroika

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Obstacles in the pursuit of happiness

Article Abstract:

Charles Murray was fair in his analysis about the flaws of Soviet society, but he was wrong in associating those flaws with socialism per se. The socialism Karl Marx envisioned, on the contrary, recognizes human individuality and provides for the economic, political and socio-cultural development of human beings. The Soviet Union has tried to foster conditions conducive to personal development in all aspects. Unfortunately, not much planning was given to incentives that would motivate individuals to make full use of these conditions.

Society, Socialism, Marxian school of sociology, Marxist sociology, Socialism and society

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