Some Economic Aspects of Marxian Theory and Soviet Practice.

This article focuses on some economic aspects of Marxian Theory and the practice followed by the Soviet Union. This is especially significant in relation to certain economic and social problems besetting the Russians today. Any industrial economic system has to find ways and means for making four groups of decisions. First, it is necessary to decide what to produce and this implies as its corollary that there be a locus of decision-making for this purpose. Secondly, decisions have to be made concerning the most efficient allocation of resources, the most effective way to combine the factors of production so as to produce in optimum proportions the various types and quantities of products needed in a modern industrial society. This applies not only to present but to future goods. Thirdly, there must be some sort of division of income or product among the various individuals and groups composing society resulting from their participation in the productive effort. Finally, there have to be devices for ensuring the orderly distribution of the products of the economy among the population.