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Investment

In: Profit, Risk and Incentives under Socialist Economic Planning

Author

Listed:
  • J. Wilczynski

    (Royal Military College of Australia
    University of New South Wales)

Abstract

The Socialist countries under consideration have passed through three stages with regard to the method of determining investment projects. Up to about the mid-1950s (1952 in Yugoslavia), investment decisions in practically all their details were made at the central level and imposed on individual enterprises. The decisions were essentially based on overriding macrosocial considerations, with little attention given to efficiency. In fact, the planned economic development by stages left little scope for choice in respect of major investment schemes.

Suggested Citation

  • J. Wilczynski, 1973. "Investment," Palgrave Macmillan Books, in: Profit, Risk and Incentives under Socialist Economic Planning, chapter 7, pages 157-173, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-01442-2_7
    DOI: 10.1007/978-1-349-01442-2_7
    as

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