Decomposition and Optimization of Short-Run Planning in a Planned Economy
Drafting central plans cannot be avoided in any economy striving for planning. The fact that such plans are put into practice proves that it is possible to find a feasible solution even applying traditional methods. However, the feasible solution obtained in practice is usually far from being optimal; the utilization of productive capacities and of foreign trade opportunities is bound to be more or less inefficient. Therefore, to find the optimal solution for the economy as a whole is of specific interest for the underdeveloped countries in view of their limited productive capacities.
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