Socialist Economics - Alec Nove & D M Nuti
 
The socialist countries represent today over one-third of the world's population and industrial output. Despite wide national differences, fairly similar patterns of economic organisation have emerged. This book contains wide-ranging material on the institutional aspects of the socialist economy.
 
Part One contains carefully selected quotations from the original Marxist sources on the working of the socialist economy, and powerful attacks on them by Barone and von Mises. In Part Two the socialist strategy of economic development, first experimented with by the USSR and later by the Eastern European countries, is outlined, with contributions from Preobrazhensky, who shaped it, as well as from Western economists. Part Three is devoted to the construction and execution of plans, and surveys the actual planning experiences of the socialist countries. Economic reforms that have been taking place since the mid-sixties are represented in Part Four by Liberman and comments from observers. Part Five discusses the mathematical techniques in socialist planning. The book ends with a brilliant up-to-date exposition of the economics of China by Jack Gray.