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Allocation of resources in the Soviet Union and China. hearings before the Subcommittee on Subcommittee on Technology and National Security of the Joint Economic Committee, Congress of the United States, One Hundred First Congress, second session by United States. Congress. Joint Economic Committee. Subcommittee on Technology and National Security

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Published by U.S. G.P.O., For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office in Washington .
Written in English


  • Soviet Union -- Economic policy -- 1986-,
  • China -- Economic policy -- 1976-2000.,
  • United States -- Economic policy -- 1981-

Book details:

Edition Notes

SeriesS. hrg -- 101-476, pt. 15
The Physical Object
Paginationvi, 439 p. :
Number of Pages439
ID Numbers
Open LibraryOL15421664M
ISBN 100160354439

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The economy of the Soviet Union was based on a system of state ownership of the means of production, collective farming, industrial manufacturing and centralized administrative Soviet economy was characterized by state control of investment, a dependence on natural resources, shortages, public ownership of industrial assets, macroeconomic stability, Currency: Soviet ruble (SUR).   Yes, the Soviet Union in the s faced a problem of dysfunctional pricing, but reformers were as hoodwinked into the programming concept as were the Cowlesians etc. in the west. Prices do not represent optimal anythings, because, if we have learned anything at all from general equilibrium theory, it is that the conditions for optimization are. 2 Economic Systems for Resource Allocation Decisions about resource allocation are necessary because we live in a world of scarcity. A review of the ideas listed at Key Points 1. 1 and 1. 2 should remind you of how central this basic premise is to the study of any branch of economics. A major feature of change in China’s economic system since has been its market reforms and its increased reliance on market mechanisms as means for guiding economic decision-making. In this respect, China proceeded further than the Soviet Union and Eastern European countries in the by: 1.

The Soviet Union, officially the Union of Soviet Socialist Republics (USSR), was a federal socialist state in Northern Eurasia that existed from to and was the largest country in the world. Nominally a union of multiple national Soviet republics, in practice its government and economy were highly was a one-party state governed by the Soviet communist party, with Capital and largest city: Moscow, . Allows for a significant infusion of capitalism into the system, China chose a relatively gradual and smooth infusion of capitalism controlled by the government, in contrast to the internal upheavals that broke the Soviet Union apart after Mikhail Gorbachev . economic system in which the allocation of scarce resources, and other economic activity, is the result of ritual, habit, or custom. Stagnation. lack of movement. comprehensive, centralized economic plan used by the Soviet Union and China to Coordinate development of . Soviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union (USSR). Although there was significant variation among these economies, Soviet-type planning and Soviet-type economies refers to the major structural characteristics common to these economies.

The Cold War was a period of geopolitical tension between the Soviet Union and the United States and their respective allies, the Eastern Bloc and the Western Bloc, after World War period is generally considered to span the Truman Doctrine to the dissolution of the Soviet term "cold" is used because there was no large-scale fighting directly .   The Soviet economy was a product of global wars and of the beliefs and technologies of the early twentieth century. During its lifetime, many other countries made similar or greater social and economic gains with more consent and less violence. On its centenary, the Soviet economy should be remembered but not mourned.   THE THREE METHODS OF RESOURCE ALLOCATION Throughout history, there have been three primary mechanisms for allocating resources. • In a traditional economy, resources are allocated according to the long-lived practices of the past. Tradition was the dominant method of resource allocation for most of human history and remains strong in many . During these years, the publications of the Joint Economic Committee on China, Eastern Europe, and the Soviet Union became a basic resource for analysis of these economies. In addition to a growing volume of work on key economic aspects of the Soviet economy, important collections of scholarly work (Bergson and Kuznets , Bergson and Levine.