Economic Crisis in a Shortage Economy

Economic Crisis in a Shortage Economy
It is not unusual for reforming socialist economies to relax wage controls without hardening budget constraints on enterprises or freeing consumer goods prices. This policy can be dangerously destabilizing. While higher wages permit workers to purchase more of some goods, they also tend to exacerbate shortages and to breed waste and corruption.... READ MORE...

Publication date: April 1991
ISBN 9781451845617
$15.00

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