Efficiency of investment in a socialist economy/ edited by Mieczyslaw Rakowski; translated by Eugene lepa

Written by a team of scientists who, under the leadership of Professor Michal Kalecki, en gaged in studies on such problems for many years, the book is devoted to methods of establishing rational solutions in the realm of investments; that is, solutions which are most efficient from the viewpoint of the national economy. The authors are not content with merely making theoretical formulations concerning the problem of studies on the investment efficiency but illustrate their arguments with many examples of application of comparative calculation of

efficiencies in various sectors of economic activity. In presenting the comprehensiveness and complexity of the problems discussed, they indicate how these problems can be solved with due account for the maximum number of the important elements in economic calculation. Following the arguments contained in this book, the reader can see the line of reasoning which leads to proper decisions concerning not only investment undertakings but also many economic ventures.

For its theoretical and practical virtues the book was awarded a scientific prize by the Polish Academy of Sciences. It will prove extremely valuable to those studying economics at universities or institutions of advanced learning. It will also provide authoritative and informative reading for all engaged in, or associated with, matters concerned with eco nomics, finance and the like,