ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Theory of Pricing in Socialist Countries

Theory of Pricing in Socialist Countries B Debroy THE theory of pricing in socialist countries is an important enough area and any contribution towards understanding price for- mation in these countries would normally have been welcome. Unfortunately, the intention of Jaya Mehta's recent paper is not at all clear.1 It cannot be taken as a description of methods of price formation in the socialist countries, since no such description is attempted. It cannot be taken to be a survey of the literature on pricing in socialist countries, since an inadequate familiarity with the literature is exhibited. There is no reference to Bettelheim's excellent survey of the debate on pricing in socialist countries, nor to Tarnovsky's illuminating account of actual methods of price formation in the CMEA countries.2 Nor can the paper be regarded as a theoretical study which brings together under an integrated framework the different systems of pricing adopted and discussed in the socialist countries. One looks for such an integrated framework in vain.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top