Economic Policy in Eastern Europe From 1950 Through 1956

Growth in East European industrial output, employment, and la bor productivity, while rapid, slowed down markedly after 1950, as did agricul tural collectivization. These are all explainable by inflationary pressures. At first, governments reacted to inflation only by drastic operations like currency conversions, but in 1952, Stalin's Economic Problems presented a more basic price analysis. His successors rejected it in favor of farm price revision and altered investment. By 1955, a controversy over direct controls had obscured interest in pricing and monetary aspects of inflation, and stressed Marxian theories of whether shortages—an inflationary phenomenon—should be met by more investment in raw materials industries or by increased authority to plant managers

Currency · Economic shortage · Economics · Government (linguistics · Inflation (cosmology · International economics · Investment (military · Keynesian economics · Macroeconomics · Market economy · Monetary economics · Political science · Productivity · Post-Communist Economic and Political Transition