Abstract
In the Marxist-Leninist project of socialist economy the elimination of cycles in economic activity is the expected result of central planning replacing the ‘anarchy’ of capitalist markets. Ex-ante coordination of the activities of government, households and firms according to a consistent, feasible and efficient plan should, in principle, ensure the continued full employment of labour and other resources along smooth growth paths instead of the recurring bouts of booms and recessions and persistent unemployment characteristic of capitalism.
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© 1990 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Nuti, D.M. (1990). Cycles in Socialist Economies. In: Eatwell, J., Milgate, M., Newman, P. (eds) Problems of the Planned Economy. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20863-0_12
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DOI: https://doi.org/10.1007/978-1-349-20863-0_12
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