- Title Pages
- Dedication
- Figures
- Tables
- Preface
- 1 The Subject and Method
- 2 The Antecedents and Prototypes of the System
- 3 Power
- 4 Ideology
- 5 Property
- 6 Coordination Mechanisms
- 7 Planning and Direct Bureaucratic Control
- 8 Money and Price
- 9 Investment and Growth
- 10 Employment and Wages
- 11 Shortage and Inflation: The Phenomena
- 12 Shortage and Inflation: The Causes
- 13 Consumption and Distribution
- 14 External Economic Relations
- 15 The Coherence of the Classical System
- 16 The Dynamics of the Changes
- 17 The “Perfection” Of Control
- 18 Political Liberalization
- 19 The Rise of the Private Sector
- 20 Self‐Management
- 21 Market Socialism
- 22 Price Reforms
- 23 Macro Tensions
- 24 Concluding Remarks
- References
- Bibliography on Postsocialist Transition
- Author Index
- Subject Index
Investment and Growth
Investment and Growth
- Chapter:
- (p.160) 9 Investment and Growth
- Source:
- The Socialist System
- Author(s):
János Kornai (Contributor Webpage)
- Publisher:
- Oxford University Press
This chapter addresses long‐term economic planning under the classical socialist system. The first two sections describe the motives of the participants and the centralized institutional framework of the investment process. The remaining sections examine the structure and dynamics of economic growth—investment in relation to consumption, priorities in the allocation of investments, relations between production factors and output, growth cycles, the measurement of aggregate output, and the forced growth that is characteristic of the socialist system.
Keywords: classical socialism, consumption, economic growth, economic planning, forced growth, growth cycles, investment, output, production factors, socialist systems
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- Title Pages
- Dedication
- Figures
- Tables
- Preface
- 1 The Subject and Method
- 2 The Antecedents and Prototypes of the System
- 3 Power
- 4 Ideology
- 5 Property
- 6 Coordination Mechanisms
- 7 Planning and Direct Bureaucratic Control
- 8 Money and Price
- 9 Investment and Growth
- 10 Employment and Wages
- 11 Shortage and Inflation: The Phenomena
- 12 Shortage and Inflation: The Causes
- 13 Consumption and Distribution
- 14 External Economic Relations
- 15 The Coherence of the Classical System
- 16 The Dynamics of the Changes
- 17 The “Perfection” Of Control
- 18 Political Liberalization
- 19 The Rise of the Private Sector
- 20 Self‐Management
- 21 Market Socialism
- 22 Price Reforms
- 23 Macro Tensions
- 24 Concluding Remarks
- References
- Bibliography on Postsocialist Transition
- Author Index
- Subject Index
