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From Marx to the MarketSocialism in Search of an Economic System$
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Wlodzimierz Brus and Kazimierz Laski

Print publication date: 1991

Print ISBN-13: 9780198283997

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198283997.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 17 October 2019

The Yugoslav Lessons

The Yugoslav Lessons

Chapter:
(p.87) 8 The Yugoslav Lessons
Source:
From Marx to the Market
Author(s):

Włodzimierz Brus

Kazimierz Laski (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198283997.003.0008

Yugoslavia's ‘labour managed market economy’ underwent changes throughout the period of its existence until the end of the 1980s. On the whole, the changes went in the direction of strengthening the market component of the economic system. However, two groups of issues prevented the reforms reaching the necessary degree of consistency: (1) the weak interaction between the dominant ‘social sector’ and the private sector hampered by numerous restrictions, and (2) the adverse economic effects of the ideological taboos of self‐management which in the opinion of many analysts led to an equilibrium position with lower output, lower employment, and higher capital intensity than a capitalist enterprise operating under analogous market parameters.

Keywords:   capital intensity, capitalism, employment, income, labour, market economy, output, profits, self‐management, Yugoslavia

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