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Absorptive Capacity of the Prerevolutionary Iranian Economy Looney, R.E.
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... It follows that absorptive capacity concepts should have been utilized by the government in implementing the nation's development strategy and that the best definition of absorptive capacity from a conceptual point of view for Iran would have been the maximum level of foreign exchange spending by th ...
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... x There is no suggestion that the enclosed notes are exhaustive or complete. x Further relevant information presented by candidates will be marked and rewarded on their merits. x The detail required in any answer is determined by the context and the manner in which the question is asked and by the n ...
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... Centrally Planned Capitalism & Market socialism CPC Economic system in which command resource allocation is used extensively in an environment of private resource ownership - Example: Swedish government controls 2/3s of all spending; a hybrid of CPS and capitalism Market socialism permits market al ...
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... are sufficient to fund reinvestment. On the other hand, the national development strategies involves channeling the funds thus obtained towards public investment or transferring them to business firms for investment by all means of incentive or subsidy. In almost every country, the state, through th ...
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< 1 ... 64 65 66 67 68 69 70 71 72 ... 234 >

Production for use

Production for use is a phrase referring to the principle of economic organization and production taken as a defining criterion for a socialist economy. It is held in contrast to production for profit. This criterion is used to distinguish socialism from capitalism, and was one of the fundamental defining characteristics of socialism initially shared by Marxian socialists, evolutionary socialists, social anarchists and Christian socialists.This principle is broad and can refer to an array of different configurations that vary based on the underlying theory of economics employed. In its classic definition, production for use implied an economic system whereby the law of value and law of accumulation no longer directed economic activity, whereby a direct measure of utility and value is used in place of the abstractions of the price system, money and capital. Alternative conceptions of socialism that don't utilize the profit system such as the Lange model involve the use of a price system and monetary calculation.The central critique of the profits system by socialists is that the accumulation of capital (""making money"") becomes increasingly detached from the process of producing economic value, leading to waste, inefficiency, and social issues. Essentially it is a distortion of proper accounting based on the assertion of the law of value instead of the ""real"" costs of the factors of production, objectively determined outside of social relations.
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