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The Theory of Error in Centrally-Directed Economic Systems

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  • Theodore Morgan

Abstract

I. Effects of size, and private versus public organization, 396. — II. The general tendencies: error and instability in centrally-directed economic systems, 400; fewer but bigger errors, 400; delay, excessive optimism, multiplication of controls, 404; highest motives versus strongest motives, 412; hypocrisy, avoidance and evasion of rules, corruption, 413. — III. Summary, 418.

Suggested Citation

  • Theodore Morgan, 1964. "The Theory of Error in Centrally-Directed Economic Systems," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(3), pages 395-419.
    • Handle: RePEc:oup:qjecon:v:78:y:1964:i:3:p:395-419.
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    File URL: http://hdl.handle.net/10.2307/1879474
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    Cited by:

    1. Farida, Mohamad & Ahmadi-Esfahani, Fredoun Z., 2006. "Corruption and economic development: A critical review of literature," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139727, Australian Agricultural and Resource Economics Society.
    2. Lambsdorff, Johann, 2001. "How corruption in government affects public welfare: A review of theory," University of Göttingen Working Papers in Economics 9, University of Goettingen, Department of Economics.
    3. Dreher, Axel & Kotsogiannis, Christos & McCorriston, Steve, 2007. "Corruption around the world: Evidence from a structural model," Journal of Comparative Economics, Elsevier, vol. 35(3), pages 443-466, September.
    4. Farida, Moe & Ahmadi-Esfahani, Fredoun Z., 2008. "Corruption and economic growth in Lebanon," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6043, Australian Agricultural and Resource Economics Society.

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