A critique of bourgeois theories of economic development

Festival expenditures amount to over 15 per cent of a household's annual expenditures in rural India. Yet they have never been studied by economists. This article uses both qualitative and quantitative data from a case study of three South Indian villages to show that festivals are important public goods in the village, but neither a pure entertainment motive nor an altruistic desire to contribute to a public event seems to explain their size. Households which spend money on festivals, everything else held equal, are able, however, to generate tangible rewards - lower prices on food, higher social status and more invitations to meals from other families. This indicates that active participation in festivals generates private economic and social returns which help resolve a potential free-rider problem. The evidence is consistent with the notion that festivals serve as mechanisms by which communities build social networks.     

Political Opposition in Russia

The Communist Party is, by its very nature and principles of organization, a democratic and independent organization that bases its activity on voluntary public service. Lenin repeatedly emphasized this aspect of the matter. He wrote: "All the party's affairs are conducted, directly or through representatives, by all members of the party, enjoying equal rights and with no exceptions" (Lenin, Soch., Vol. II, p. 396).     

Rethinking Price Reform in the USSR

A distinguished and outspoken Soviet proponent of perestroyka, who is one of its key architects, outlines the major components of an “ideal” price reform package before examining its possible consequences and obstacles to its full realization. He then presents what he believes is a workable alternative to the official Soviet policy on price reform, as well as a crude timetable for its implementation (sequence of reforms in retail and wholesale prices). The paper marks a significant shift in the author's view on the subject, journal of Economic Literature, Classification Numbers: 027, 052, 124, 227.