The Theory of Money and Monetary Equilibrium in Socialist Economy :An Study in Political Economy of Socialism

The notion of equilibrium plays an important role in economic theory. This notion, in spite of its importance, was until the recent years rarely used in the Marxian economics 1). As Prof. Fedorowicz correctly showed, this does not mean that the equilibrium It is the contrary problem has no place in the Marxian economics. which is correct. Marx in "Capital" gåve a great deal to the analysis of the interrelation and interdependence between different economic categories and analyzed the adaptation of different proportions to each other. This type of analysis is in fact an equilibrium analysis. In planned economies the study of the determination of different pro- portions and interdependence between economic categories is a necessary condition to construct a balanced and consistent plan.