Economics, Econometrics and Finance
8 years ago

Socialist Economy in Hungary Evolves into Mixed Economy with Market Influence.

Palgrave Macmillan UK eBooks
Enterprises in Hungary Before and After the Economic Reform
Rezsö Nyers, Martón Tardos

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The article discusses the differences between socialist and mixed economies, focusing on Hungary before and after economic reform. In a socialist economy, the foundation is based on state and cooperative ownership with a planned economy, but the market also plays a role. When market relations are well-developed in a socialist economy, similarities with mixed economies can emerge.