The Yugoslav Lessons

Włodzimierz Brus and Kazimierz Laski

in From Marx to the Market

Published in print April 1991 | ISBN: 9780198283997
Published online November 2003 | e-ISBN: 9780191596032 | DOI:

Series: Clarendon Paperbacks

 The Yugoslav Lessons

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Yugoslavia's ‘labour managed market economy’ underwent changes throughout the period of its existence until the end of the 1980s. On the whole, the changes went in the direction of strengthening the market component of the economic system. However, two groups of issues prevented the reforms reaching the necessary degree of consistency: (1) the weak interaction between the dominant ‘social sector’ and the private sector hampered by numerous restrictions, and (2) the adverse economic effects of the ideological taboos of self‐management which in the opinion of many analysts led to an equilibrium position with lower output, lower employment, and higher capital intensity than a capitalist enterprise operating under analogous market parameters.

Keywords: capital intensity; capitalism; employment; income; labour; market economy; output; profits; self‐management; Yugoslavia

Chapter.  5908 words. 

Subjects: Economic Systems

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