Unemployment in Socialist Countries

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Unemployment in Socialist Countries

Rottenberg, Simon

Industrial & labor relations review, 07/1962, Volume: 15, Issue: 4

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Proponents of socialist or centrally planned economies often assert that their systems of resource allocation and utilization banish the great scourge of capitalist economic organization, unemployment. The probable truth of this assertion is examined in this brief discussion. In general, its author finds in the absence of market-determined prices in allocating labor that the probability of full employment in socialist economies is small. (Author's abstract courtesy EBSCO.)

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