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Book Cover
Author Žídek, Libor, author

Title Centrally planned economies : theory and practice in socialist Czechoslovakia / Libor Žídek
Published Abingdon, Oxon ; New York, NY : Routledge, 2019
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Description 1 online resource : illustrations
Series Routledge studies in the European economy
Routledge studies in the European economy
Contents Cover; Half Title; Series Page; Title; Copyright; Contents; Figures and diagrams; Tables; Boxes; Acknowledgements; Introduction; 1 Formal and informal institutions of the socialist era; 1.1 Political system and development; 1.1.1 The Communist Party of Czechoslovakia; 1.2 Legal and enforcing system; 1.2.1 Administration of justice; 1.3 Paternalist and repressive state; 1.3.1 Paternalist state; 1.3.2 Repressive state; 1.4 Informal institutions: behaviour of individuals; 1.4.1 Working habits and inequality in income; 1.4.2 Morals and religion; 1.4.3 Everyday economic incentives
2 Marxist-Leninist economic theory2.1 Capitalism; 2.2 Socialism; 2.2.1 Leading role of the communist party and role of state; 2.2.2 Nationalization; 2.2.3 Planning process; 2.2.4 Specifics of central planning environment; General labour duty and dealing with the labour force; State monopoly and competition; Banking and non-monetary economy; International integration; 2.3 Criticism of Marxist economic policy; 3 Formal settings of central planning in Czechoslovakia; 3.1 The role of the Communist Party; 3.2 Ownership -- nationalization; 3.3 Description of the planning model
3.3.1 Principles of planning3.3.2 Definition of the main entities in the planning hierarchy; The economic centre (Federal government, State Planning Commission, ministries); Production-economic units (VHJ); Socialist enterprise; 3.3.3 Types of the central plan; Plans according to time; Plans according to subject; 3.3.4 Creation of the central plan; 3.3.5 Balance method; 3.4 The specifics of the planning system; 3.4.1 Planning of labour market; 3.4.2 Banking sector and non-monetary system; 3.4.3 Outer relationships; 4 Practices of central planning in Czechoslovakia
4.1 General environment and settings of the system4.1.1 Ownership; 4.1.2 Central plan in practice; Central plan or markets?; Balance; 4.1.3 Influence of the Communist Party on the economy; 4.2 Behaviour of the economic centre in the CPE model; 4.2.1 Forming and meeting of the plan; 4.2.2 Investment; 4.2.3 Wage policy; 4.2.4 Who controlled the centre?; 4.3 The role of the VHJs in the CPE system; 4.4 Behaviour of companies; 4.4.1 Plan formation; 4.4.2 Companies in the production phase; Vicious cycle of shortage and hoarding; Search for opportunities; Credit
Cooperative, non-competitive environment4.4.3 Meeting the plan; What exactly to meet/to produce?; How to achieve the global plan for the company?; What was the "optimal" fulfilment of the global plan?; Failure to complete the plan; 5 Macroeconomic results; 5.1 Meeting the global plan; 5.2 Economic growth; 5.2.1 Character of economic growth; GDP per capita and real wages; Productivity; Structure of the economy; The share of investment; The share of (personal) consumption; 5.3 Unemployment and functioning of the labour market; 5.4 Price stability and inflation
Summary Offering a retrospective view of how the system operated in Communist Czechoslovakia, this book is an important voice in the discussion about the systems of central planning. The unique features of the book include in-depth research comprising both archival records and analyses of around75 interviews conducted with period managers across a wide range of management levels. They provided evidence of pervasive inefficiency resulting in appalling economic outcomes. The book begins with a background to the politico-sociological system in Czechoslovakia and proceeds to describe the Marxist-Leninist ideological foundation of the regime, which underpinned the formal setting of the Czechoslovak model. These initial chapters set the context for the subsequent analysis of the real functioning of the system. The book explores the economic outcomes that must be understood as a natural consequence of the ways in which this system operated. The author finishes by answering the important question of why centrally planned economies trailed behind the market economies. The book's unique use of the interview research format brings a vivid, close-up view of the everyday economic life in the centrally planned system. This will be a valuable contribution to the discussion surrounding the day-to-day reality of the system, which was found to be more colourful than is generally deemed. The book will appeal to both economic historians and students of economic history. A warning against repeating past mistakes, this book will also be of interest to those seeking a greater knowledge of the realities and consequences of centrally planned economies
Bibliography Includes bibliographical references and index
Notes Libor eŹâidek, Associate Professor, has lectured at the Faculty of Economics and Administration at Masaryk University, Czech Republic, since 1997. He specializes in economic transformation with a particular focus on the Czech economy. He also has a keen interest in planned economy, particularly in Czechoslovakia and generally in economic history. His doctoral thesis focused on the impact of globalization on economic policy and his habilitation thesis on the transformation process in the Czech Republic. He teaches courses on World Economic History, Economic Transformation and Macroeconomics. He has lectured on the topics of central planning and transformation in a number of countries, including the USA, Canada, Japan, Germany, the UK, Poland, Finland, Ukraine, andJamaica. He has presented at conferences and published several books and a number of chapters and journal papers
Online resource; title from digital title page (viewed on June 10, 2019)
Subject Central planning -- Czechoslovakia
BUSINESS & ECONOMICS -- Economic History.
BUSINESS & ECONOMICS -- International -- Economics.
Central planning.
Economic history.
Economic policy.
Czechoslovakia -- Economic conditions -- 1945-1992
Czechoslovakia -- Economic policy -- 1945-1992
Form Electronic book
ISBN 0429464118