First published in 1983, The Planned Economies of Eastern Europe provides a penetrating analysis of the Eastern European economies, beginning with an examination of the Soviet model on which they are based. An interesting comparison is made between the levels of economic development in these countries before and after adopting the Soviet model. The effect of the model in generating rapid industrial growth by giving priority to heavy industry without regard to the raw material base, and in doing so, neglecting agricultural development, is looked at in detail. This is followed by a survey of proposals to reform the system put forward by Polish, Hungarian, and Czechoslovakian economists. A discussion of the role of money and the problems of consumer equilibrium, and the problems of foreign trade, both inside and outside Comecon, concludes this in-depth and constructive review.
