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Abstract
The modern principles used in determining the economic effectiveness of socialist production, scientific and technological progress, and capital investment are based on Marxist economic theory, on the knowledge and utilization of the economic laws of socialism, and on vast experience in planning and management. They are conditional on the long-term objectives of socialist society, which are aimed at raising the living standard of the people and at making use of the attainments of the scientific and technological revolution, and they are based on the varied practical experience of planning, scientific, design, and economic organizations in determining priority socioeconomic tasks and the most effective economic and technical solutions.
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