Investment and Growth

János Kornai

in The Socialist System

Published in print May 1992 | ISBN: 9780198287766
Published online November 2003 | e-ISBN: 9780191596551 | DOI:

Series: Clarendon Paperbacks

 Investment and Growth

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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

Chapter.  17082 words.  Illustrated.

Subjects: Economic Systems

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