Price Reforms

János Kornai

in The Socialist System

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

Series: Clarendon Paperbacks

 Price Reforms

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One of the major tendencies in the move away from the classical socialist system is a modification of the price system. This is closely related to the revival of the private sector and reform of the control of the state sector towards market socialism. The price reforms described in this chapter alter the coordination mechanisms and behaviour of participants in the economy. They do not cause a radical change but are sufficiently important to qualify as part of the reform process. The different sections of the chapter discuss changes in the determination of product prices as a result of a change in the proportions of the areas in which each of the three types of price determination (administrative, pseudoadministrative, and market) occur; determination of the prices of production factors; principles and practice of state price determination and fiscal redistribution; and the scope and limits of price reforms.

Keywords: classical socialism; fiscal redistribution; price determination; price reform; prices; product prices; production factors; reform; socialist systems; state price determination

Chapter.  6948 words. 

Subjects: Economic Systems

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