Because of the inherited ownership structure and the uncertainties associated with reform, market regimes in reforming socialist economies will continue to need centralized controls over wages in worker- controlled firms (the socialized sector). Unemployment and an expanding private sector alone are unlikely to provide a sufficient restraining mechanism for wages.
Because of the inherited ownership structure and the uncertainties associated with reform, market regimes in reforming socialist economies will continue to need centralized controls over wages in worker- controlled firms (the socialized sector). Unemployment and an expanding private sector alone ...