Abstract
The basic institutions of socialism in the Soviet-type economy are: (i) state ownership in productive assets, (ii) central planning of resources, and (iii) one-party political monopoly. Those institutions set the Soviet-type economy apart from other social systems. They generate incentives and transaction costs that have specific and predictable effects on the behavior of decision makers, the allocation of resources, and the flow of innovation.
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Suggested Readings
Ioffe, O. and Maggs, P. The Soviet Economic System: A Legal Analysis, Boulder, Westview Press, 1987, chapters 1–3.
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© 1990 Kluwer Academic Publishers
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(1990). Basic Institutions of the Soviet-Type Economy: State Ownership. In: The Economics of Property Rights: Towards a Theory of Comparative Systems. International Studies in Economics and Econometrics, vol 22. Springer, Dordrecht. https://doi.org/10.1007/978-0-585-28557-3_11
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DOI: https://doi.org/10.1007/978-0-585-28557-3_11
Publisher Name: Springer, Dordrecht
Print ISBN: 978-0-7923-0878-2
Online ISBN: 978-0-585-28557-3
eBook Packages: Springer Book Archive