A SUGGESTED PLANNING PROCEDURE WITH SCARCITY IN A CENTRALLY PLANNED ECONOMY

This paper examines, after a brief review of\nplanning procedures, a scarcity restricted - central\nplanning model. An initial feasible programme is\nassumed to exist. It was shown that the model\n(Novozhilov, 1970) can be extended into a dynamic\nplanning model whereby an improving macro plan is\nachieved with every iteration. Procedure described,\nhas the primary desirable properties of planning\nroutine: it is well-defined, convergent and furthermore\nlabour - value based. It is closely associated\nwith the multi - echelon type of planning procedures.