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The Correct Relation Between Prices of Producer Goods and Wage Costs in a Socialist Economy

  • Jan Lipinski
Chapter
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Part of the International Economic Association Series book series (IEA)

Abstract

The subject I chose at first was entitled: ‘Relative prices of capital and consumer goods’. It was one of the topics suggested by the organizers of this Conference. But I had to modify it, because I realized that I would not be able to say much on it, if I had to keep to its literal formulation. For it seems to me that price relations between producer and consumer goods have no significance whatever as parameters for any decisions in a socialist economy. They neither influence the allocation of resources between investment and consumption sectors, nor do they affect investment decisions in particular industries, because those decisions are not governed by higher profitability in money terms.

Keywords

Price Level Producer Good Project Variant Investment Project Socialist Economy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 1.
    Cf. M. Dobb, An Essay on Economic Growth and Planning, London, 1959, chapter vi.Google Scholar
  2. 1.
    This has been rightly pointed out by Joan Robinson in ‘The Philosophy of Prices’, in Collected Papers, Oxford, 1960.Google Scholar
  3. 1.
    L. Kantorowicz, Economiczeskij razcziot najluczszego ispolzowanja riesorsov (Economic Calculation of the best Use of Resources), Moscow, 1959.Google Scholar
  4. 1.
    J. Lipinski, ‘Wybrane zagadniendia z problematyki cen środków produkcji’ (‘Selected problems of setting prices of means of production’), Ekonomista, 1954, No. 4.Google Scholar
  5. 1.
    J. Lipinski, ‘W sprawie teorü kosztöw krancowych’ (‘On the theory of marginal costs)’, Ekonomista, 1961, No. 2.Google Scholar
  6. 1.
    V. Novozylov, Izmierenije zatrat i ich resultatov w socjalisticzeskom chozjajstvie (Primienienie matematiki u ekonomiczeskich issledowanijach), Moscow, 1959.Google Scholar
  7. J. Lipinski, ‘Ocena efektywności inwestycji’ (‘The estimate of investment effectiveness’), Ekonomista, 1957, No. 2.Google Scholar
  8. H. Fiszel, ‘Optymalne programowanie inwestycji, a stopa procentowa w gospodarce socjalistycznej’ (‘Optimal programming of investment and the rate of interest in a socialist economy’), Ekonomistay 1961, No. 1.Google Scholar
  9. 1.
    M. Kalecki, M. Rakowski, ‘Próba uogólnienia wzoru efektywności inwestycji’ (‘An attempt at a generalisation of the investment effectiveness formula’), Gospodarki Planowa, 1959, No. 11.Google Scholar
  10. T. Czarnek, Z. Kryziak, M. Rakowski, ‘Syntetyczna forma rachunku efek-tywności inwestycji’ (‘The synthetic form of calculation of economic effectiveness of investment’), Ekonomista, 1961, No. 3.Google Scholar

Copyright information

© International Economic Association 1966

Authors and Affiliations

  • Jan Lipinski
    • 1
  1. 1.Central School of Planning and StatisticsWarsawPoland

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