The Nature of Socialist Economics: Lessons from Eastern European Foreign Trade (Princeton Legacy Library) - Brossura

Murrell, Peter

Brossura

ISBN 10: 0691606420 ISBN 13: 9780691606422

Casa editrice: Princeton University Press, 2014

Riassunto

What are the sources of the well-known differences in the performance of capitalist and socialist economic systems? Peter Murrell argues that the Schumpeterian model has far more power to answer this question than does the neoclassical theory generally used for that purpose. The neoclassical theory focuses on the absence of a price system and the inability of a centralized system to allocate resources efficiently, while the Schumpeterian model emphasizes the rigidity of institutions and policies in socialist economies and their lack of mechanisms either to create new institutions or to identify and to foster the growth of the most efficient organizations (including multinational corporations). In a work that will have profound consequences for the analysis of economic reform in socialist economies, Murrell compares the predictions of these two models against data summarizing foreign trade performance and finds the Schumpeterian model clearly superior. Combining international trade theory and econometric techniques, the author develops new methods of comparative economic analysis. These methods provide new information on the values of eleven resource endowments implicit in trade, the degree to which the socialist countries fit standard models of trade, the effect of multinational corporations on trade, and myriad other features of economic performance. Originally published in 1990. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

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Recensione

One of Choice's Outstanding Academic Titles for 1991

L'autore

Peter Murrell is Professor of Economics at the University of Maryland and currently holds a Chair on the Academic Council of the IRIS Center. He is the author of The Nature of Socialist Economies and Assessing the Value of Law in the Transition to Socialism, and is a contributor to various journals, including the American Economic Review and the Journal of Comparative Economics.

Dettagli dell?edizione

• Editore: Princeton University Press
• Data di pubblicazione: 2014
• ISBN 10: 0691606420
• ISBN 13: 9780691606422
• Rilegatura: Copertina flessibile
• Lingua: Inglese
• Numero di pagine: 292
• Contatto del produttore: non disponibile