Advanced Search
MyIDEAS: Login to save this paper or follow this series

Zdroje Nebo Podněty Růstu?


Author Info

  • Kyn, Oldrich


This article was published in the Czech Journal “Plánované hospodářství” in 1967. This was the time of rapid changes both in the Czechoslovak economic and political theory as well as in actual economic and political systems that culminated in the “Prague Spring” of 1968. These changes were preceded and in the considerable degree also stimulated by the completely unexpected economic recession of the first half of 1960’s. The economy that was by Marxist theory and Communist propaganda supposed to grow in the fast, uninterrupted and well balanced way suddenly stopped growing and in one year even slightly declined. There appeared two conflicting views about the way out from the recession. The orthodox Marxists and especially the planners from the Central Planning Office argued that the only way out is by significant increase of investment that would generate additional productive capacity. Some even argued that because the technical progress is capital intensive, the uninterrupted growth requires permanently increasing share of investment in the National Income. The opposite view saw the solution in the abolition of the Soviet-type command planning and return to the market economic system. This paper uses theories of economic growth and references to the empirical studies that unquestionably demonstrated the mostly capital-saving nature of technological progress in the 20th century, to show, that the further increases of already very high share of investment in National income is not necessary and would be in fact harmful. The further slowing down of the growth of per capita consumption that would be necessary if the first strategy was adopted would undermine the incentives for increasing the labor productivity and for choice of capital-saving technologies.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL:
File Function: original version
Download Restriction: no

Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 22.

as in new window
Date of creation: 1967
Date of revision:
Publication status: Published in Plánované hospodářství, No. 4..Vol. X(1967): pp. 70-80
Handle: RePEc:pra:mprapa:22

Contact details of provider:
Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page:
More information through EDIRC

Related research

Keywords: Socialism; Central Planning; Czechoslovak Economic Reform; Prague Spring; Recession; Rate of Growth; Share of Investment; Capital-Output Coefficient; Technical Progress; Capital-Saving Technology; Incentives; National Income; Consumption; Investment;

Find related papers by JEL classification:


No references listed on IDEAS
You can help add them by filling out this form.



This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:22. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.