Central Planning

Examines the nature and the mode of operation of the centrally planned economy, assessing its strengths and the weaknesses that eventually led to its demise. 1. Introduction; 1.1. Development of the idea of planning; 1.2 Emergence of central planning in the Soviet Union; 1.3 The 1930s debate on the feasibility of planning: critical review; 2. Planning as a Resource Allocation Mechanism; 2.1 Definition of planning: a descriptive approach; 2.2 Definition of planning: analytic approach; 2.3 Decentralisation; 3. Information and Incentives; 3.1 Horizontal and vertical information flows; 3.2 Aggregation of information; 3.3 Incentives and bonuses; 3.4 Game-theoretic approaches to planning; 4. Organisational Structure of a Planned Economy; 4.1 Alternative organisational forms; 4.2 Branch and regional structures; 4.3 Organisational structure and economic change; 5. Planning and the Macroeconomy; 5.1 Central planning and shortage; 5.2 Internal and external balance; 5.3 Innovation, investment and growth; Bibliography; Index;