Word: reformations
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Dates: during 1960-1969
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Soon even Moscow - in the voice of Evsei Liberman - was talking of "in centives" and the "profit motive," a green light to the East bloc that soon set Hungary, Bulgaria and even the Stalinist states of East Germany and Czechoslovakia to thinking about reform. Out of earshot of the West, economists began discussing things that the West would understand: bonuses and reinvestment, free prices and the need for incentives, even the accumulation of wealth-once a heretical thought under "egalitarian" Communism. Quite independently of one another, the prophets of profit began coming to the same conclusion: rigid Stalinist-style central...
Last week Czech economists were putting the finishing touches on an economic reform program designed to rectify that disastrous situation. It shatters the rigidity of central planning, establishes realistic prices and eliminates subsidies, forces each Czech factory to pay its own way or close down. In its sweep and good sense, it transcends any other reform plan in Eastern Europe...
...whole Sik reform is prices. "If the system is to work as a market," says Sik, "it needs real market prices." Only a few staples-mainly foodstuffs and fuel-will have centrally fixed prices. All others will be allowed to move freely in response to supply and demand. Sik feels there is competition enough among domestic producers to keep prices healthy, though he does not rule out the need for price-fixing at the top, if need be, to control inflation. On the foreign-trade level, he hopes that competition in the realistic world of market prices will force specialization...
...include such nuts-and-bolts matters as the exact level of taxation to be charged on enterprise profits, the exact proportion of bonuses, the exact changes in various wholesale prices arising from the end of subsidy. They may not succeed: the "oxen" with their Stalinist axes have cut down reform before and may stall it again before the New Year rolls around...
...proposal for reform must be based on what the Pentagon has gradually learned about its manpower supply, McNamara insisted. He divided the 1.8 million men who reach eligibility for service each year into three parts...