Central Planning in Czechoslovakia: Organization for Growth in a Mature Economy

By Jan M. Michal | Go to book overview

Chapter 2
INDUSTRY

1. Importance of Industry in the Czechoslovak Economy

Industry (which, under Czechoslovak statistical definitions, includes mining, manufacturing, and public utilities such as gas and electricity) has been the main target of economic expansion since the beginning of comprehensive central planning, with a short-lived change of this policy in 1955.

The number of persons working in industry went up from 1,508,000 in 1948 to 2,022,000 in 1958 (including workers and salaried people), or by 34 per cent, as compared with the average increase of the total labor force in the national economy of approximately 11 per cent. In 1948 less than 30 per cent of the working population was employed in industry; in 1953, over 32 per cent; in 1958, well over one-third.

Industry also was the main beneficiary of fixed capital formation. Out of the domestic gross fixed investments of 214.2 billion Kčs (at 1956 prices) over the period 1948-57, 91.9 billion, or 42 per cent, went to industry (excluding the so-called "general overhauls," see Chapter 8, Section 2; under the definition of gross fixed investments as usually applied in the West, industry's share was greater). Industry's share in gross fixed investments financed by the state was even higher, 58 per cent (again excluding the "general overhauls"). "Basic funds" (fixed capital assets) in industry (at 1955 replacement costs; see Chapter 8) increased by 68 per cent between 1948 and 1958, as compared with the over-all increase of basic funds of only 41 per cent in the national economy. Industry's share in existing capital assets (at 1955 constant replacement costs) went up from 24 per cent in 1948 to 29 per cent in 1958.

With these large inputs, industrial production and the share of industry in the national income increased considerably. Under the Marxist definition of national income (see Chapter 10, Section 1), income originating in industry, at 1955 constant prices, rose between 1948 and 1957 by 101 per cent; however, this was less than the rise of the total Marxist national income at 1955 constant prices, and the share of industry in total

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Central Planning in Czechoslovakia: Organization for Growth in a Mature Economy
Table of contents

Table of contents

  • Title Page iii
  • Acknowledgments v
  • Contents vii
  • List of Tables ix
  • Abbreviations and Symbols xiii
  • Introduction 1
  • Chapter 1 Population and Manpower 6
  • Chapter 2 Industry 26
  • Chapter 3 Construction 58
  • Chapter 4 Agriculture 64
  • Chapter 5 Transportation 91
  • Chapter 6 External Trade 96
  • Chapter 7 Money and Prices 139
  • Chapter 8 State Budget and Investments 165
  • Chapter 9 Income of the Population and Standard of Living 188
  • Chapter 10 National Income, Gross Product, and Expenditure Aggregates 211
  • Conclusion 238
  • Appendix Results of the 1959 Plan; Plan for 1960 and Targets for 1965 Under the Third Five-Year Plan 245
  • Summary 253
  • Bibliography of Works Cited 265
  • Subject Index 269
  • Name Index 274
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