Abstract
This chapter gives an example of a Soviet type planning model and its critiques. The critiques are answered by an empirical evaluation of the investment allocation strategy on India. Although India was not a socialist country, it has applied the Mahalanobis theory stating with the 2nd plan in 1956. The empirical evaluation covers the period of 1951 and 1971 by simulating alternative strategies on the economy.
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Basu, D., Miroshnik, V. (2020). Socialist Calculation. In: Imperialism and Capitalism, Volume II. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-54891-9_4
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DOI: https://doi.org/10.1007/978-3-030-54891-9_4
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