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Material Product
{{Soviet-type economics } Material Product System (MPS) refers to the system of national accounts used by 16 Leninist countries for different lengths of time, including the former Soviet Union and the Eastern Bloc countries (until around 1990), Cuba, China (1952-1992) and several other Asian countries The MPS has now been replaced by the United Nations System of National Accounts (UNSNA), UNSNA accounts in most countries that used MPS, although some countries such as Cuba and North Korea have continued to use MPS alongside UNSNA-type accounts. Today it is difficult to obtain detailed information about accounting systems which are an alternative to UNSNA, and therefore few people know that such systems exist and have been used by various countries. Differences from SNA The main structural differences between MPS and UNSNA are attributable to a different interpretation of newly created value, and of the accumulation of stocks of wealth. Consequently, there are differences in grossing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Accounts
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design, such accounting makes the totals on both sides of an account equal even though they each measure different characteristics, for example production and the income from it. As a method, the subject is termed national accounting or, more generally, social accounting.Nancy D. Ruggles, 1987. "social accounting," '' The New Palgrave: A Dictionary of Economics'', v. 4, pp. 377–82. Stated otherwise, national accounts as ''systems'' may be distinguished from the economic data associated with those systems. While sharing many common principles with business accounting, national accounts are based on economic concepts. One conceptual construct for representing flows of all economic transactions that take place in an economy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Administered Prices
Administered prices are prices of goods set by the internal pricing structures of firms that take into account cost rather than through the market forces of supply and demand and predicted by classical economics. They were first described by institutional economists Gardiner Means and Adolf A. Berle in their 1932 book '' The Modern Corporation and Private Property''. As Means argued in 1972, "Basically, the administered-price thesis holds that a large body of industrial prices do not behave in the fashion that classical theory would lead one to expect. It was first developed in 1934–35 to apply to the cyclical behavior of industrial prices. It specifically held that in business recessions administered prices showed a tendency not to fall as much as market prices while the recession fall in demand worked itself out primarily through a fall in sales, production, and employment." Empirical data Since Means and Berle's pioneering work in the 1930s, numerous empirical surveys have b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Product
The ''value product'' (VP) is an economic concept formulated by Karl Marx in his critique of political economy during the 1860s, and used in Marxian social accounting theory for capitalist economies. Its annual monetary value is approximately equal to the netted sum of six flows of income generated by production: *wages and salaries of employees. * profit including distributed and undistributed profit. *interest paid by producing enterprises from current gross income *rent paid by producing enterprises from current gross income, including land rents. *tax on the production of new value, including income tax and indirect tax on producers. *fees paid by producing enterprises from current gross income, including: royalties, certain honorariums and corporate officers' fees, various insurance charges, and certain leasing fees incurred in production and paid from current gross income. The last five money-incomes are components of realized surplus value. In principle, the value p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UNSNA
The System of National Accounts (often abbreviated as SNA; formerly the United Nations System of National Accounts or UNSNA) is an international standard system of national accounts, the first international standard being published in 1953. Handbooks have been released for the 1968 revision, the 1993 revision, and the 2008 revision. The System of National Accounts, in its various released versions, frequently with significant local adaptations, has been adopted by many nations. It continues to evolve and is maintained by the United Nations, the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation and Development and Eurostat. The aim of SNA is to provide an integrated, complete system of accounts enabling international comparisons of all significant economic activity. The suggestion is that individual countries use SNA ''as a guide'' in constructing their own national accounting systems, to promote international comparability. However, adherence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soviet-type Economic Planning
Soviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union (USSR). The post-''perestroika'' analysis of the system of the Soviet economic planning describes it as the administrative-command system due to the ''de facto'' priority of highly centralized management over planning. Characteristics Institutions The major institutions of Soviet-type planning in the USSR included a planning agency (Gosplan), an organization for allocating state supplies among the various organizations and enterprises in the economy (Gossnab) and enterprises which were engaged in the production and delivery of goods and services in the economy. Enterprises comprised production associations and institutes that were linked together by the plans formulated by Gosplan. In the Eastern bloc countries (Bulgaria, Czechoslovakia, East Germany, Hungary, Poland, Romania, and Albania), economic pla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productive And Unproductive Labour
Productive and unproductive labour are concepts that were used in classical political economy mainly in the 18th and 19th centuries, which survive today to some extent in modern management discussions, economic sociology and Marxist or Marxian economic analysis. The concepts strongly influenced the construction of national accounts in the Soviet Union and other Soviet-type societies (see Material Product System). Classical political economy The classical political economists, such as Adam Smith and David Ricardo, raised the economic question of which kinds of labour contributed to increasing society's wealth, as against activities which do not increase wealth. In the introduction to ''The Wealth of Nations'', Smith spoke of the "annual labour" and "the necessaries and conveniences" a nation "annually consumes" before explaining that one of the two steps to increase wealth is reducing the amount of "unproductive labour". "Annual" and "annually" refer to a cyclical reproduction proc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Material Product
Net Material Product (NMP) was the main macroeconomic indicator used for monitoring growth in national accounts of socialist countries during the Soviet era. These countries included the USSR and all the Comecon members. NMP is the conceptual equivalent of Gross Domestic Product (GDP) in the United Nations System of National Accounts, although numerically the two measures are calculated differently. NMP is calculated for the material production sectors only, and excludes most of the service sectors, which are part of GDP. The material production sectors include manufacturing industries, agriculture and forestry, construction, wholesale and retail trade, supply of material inputs, road maintenance, freight transport (but not passenger transport), communication and information services supporting material production, and other material production activities. It is calculated by subtracting the value of all production costs (including the cost of material inputs, depreciation, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Material Product
{{Soviet-type economics } Material Product System (MPS) refers to the system of national accounts used by 16 Leninist countries for different lengths of time, including the former Soviet Union and the Eastern Bloc countries (until around 1990), Cuba, China (1952-1992) and several other Asian countries The MPS has now been replaced by the United Nations System of National Accounts (UNSNA), UNSNA accounts in most countries that used MPS, although some countries such as Cuba and North Korea have continued to use MPS alongside UNSNA-type accounts. Today it is difficult to obtain detailed information about accounting systems which are an alternative to UNSNA, and therefore few people know that such systems exist and have been used by various countries. Differences from SNA The main structural differences between MPS and UNSNA are attributable to a different interpretation of newly created value, and of the accumulation of stocks of wealth. Consequently, there are differences in grossing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China GDP
This article includes a list of China's historical gross domestic product (GDP) values, the market value of all final goods and services produced by a nation in a given year. The GDP dollar estimates presented here are either calculated at market or government official exchange rates (nominal), or derived from purchasing power parity (PPP) calculations. This article also includes historical GDP growth. In 1985, the State Council of China (SCC) approved the establishment of a SNA (System of National Accounting), using GDP to measure the national economy. China started to study and then implement a new system of national economic accounting. In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Fengbo Zhang headed ''Chinese Macroeconomic Research'' - the key research project of the seventh five-year plan, as well as completing and publishing the Chinese GDP data according to China's own research and calculations. A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transfer Pricing
In taxation and accounting, transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. Because of the potential for cross-border controlled transactions to distort taxable income, tax authorities in many countries can adjust intragroup transfer prices that differ from what would have been charged by unrelated enterprises dealing at arm’s length (the arm’s-length principle). The OECD and World Bank recommend intragroup pricing rules based on the arm’s-length principle, and 19 of the 20 members of the G20 have adopted similar measures through bilateral treaties and domestic legislation, regulations, or administrative practice.World Bank pp. 35-51 Countries with transfer pricing legislation generally follow th''OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations''in most respects, although their rules can differ on some important details. Where adopted, transfe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Keynesian Economics
Post-Keynesian economics is a school of economic thought with its origins in ''The General Theory'' of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics. Introduction The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Alfred Eichner, Eichner and Kregel (1975) and by the establishment of the ''Journal of Post Keynesian Economics'' in 1978. Prior to 1975, and occasionally in more recent work, ''post-Keynesian'' could simply mean economics carried out after 1936, the date of Keynes's ''General Theory''. Post-Keynesian economists are united in maintaining that Keynes' theory is seriously misrepresented by the two other principal Keyne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comecon
The Council for Mutual Economic Assistance (, ; English abbreviation COMECON, CMEA, CEMA, or CAME) was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc along with a number of socialist states elsewhere in the world. The descriptive term was often applied to all multilateral activities involving members of the organization, rather than being restricted to the direct functions of Comecon and its organs. This usage was sometimes extended as well to bilateral relations among members because in the system of communist international economic relations, multilateral accords typically of a general nature tended to be implemented through a set of more detailed, bilateral agreements. Comecon was the Eastern Bloc's response to the formation in Western Europe of the Marshall Plan and the OEEC, which later became the OECD. Name in official languages of the members History Foundation The Comecon was fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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