The Hungarian Model: Markets and Planning in a , Richet, Xavier<-

The Hungarian ModelMarkets and Planning in a Socialist Economy\nAuthor(s): Xavier Richet, J. C. Whitehouse\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521060646, 978-0521060646\nSynopsis\nThis book provides an exceptionally thorough treatment of the Hungarian economy and its experience of economic reform. Within a wider discussion of the appliance and success of Soviet-type economies (STEs), the author investigates the decentralizing measures and market mechanisms which have been progressively introduced and considers the limits on and limitations of the Hungarian economic model. The reforms adopted since 1968, known initially as the New Economic Mechanism, were intended to build a system of market socialism combining micro-economic efficiency, indirect regulation and socialist ethical principles. However, the predicted improvements in the economy still have not fully materialized: living standards have .