Is Private Capital Possible within the Ownership Structure of Contemporary Soviet Society?

Abstract

The interpretation of the crisis state of our society has occasioned numerous attempts to analyze its economic foundation—the nature, functions, and effectiveness of state ownership. The idea that various forms of ownership, private ownership included (e.g., in the form of a family farm), can compete within the single economic system of Soviet society is now no longer a novelty. A number of economists insist that share-holding ownership is a possible and effective form of public ownership. The purpose of the present article is to attempt to demonstrate the possibility and necessity of also permitting private capital within the structure of the emerging property relations in the Soviet economy.