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The Economic Crisis in Yugoslavia

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  • Ota Sik

    (University St Gallen)

Abstract

The Yugoslav economic system suffers under at least three avoidable systemic and political deficiencies. First, the plants' authority of income distribution leads to an inflationary development of incomes. Secondly, the lacking differentiation between wages and profits leads to unreasonable and demotivating differences between remunerations for same work. A system of profit participation different to basic wages would be necessary. Thirdly, the institutional basis for a reasonable macro economic policy is too weak, or rather, the influence of regional and republic authorities as well as of monopolistic plants is much too strong.

Suggested Citation

  • Ota Sik, 1986. "The Economic Crisis in Yugoslavia," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 7(3), pages 361-369, August.
    • Handle: RePEc:sae:ecoind:v:7:y:1986:i:3:p:361-369
    DOI: 10.1177/0143831X8673007
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