Oprocentowanie nakładów i zasobów kapitałowych w gospodarce socjalistycznej

Abstract

Celem pracy jest analiza roli, jaką w gospodarce socjalistycznej pełnić może kategoria stopy procentowej. Genezą zainteresowań, które zadecydowały o wyborze tematu była dyskusja wznowiona w Polsce w roku 1956 na temat roli procentu w socjalizmie. W dyskusji tej akcent padał przede wszystkim na bodźcowe znaczenie stopy procentowej. Ta jej funkcja stanowiła przedmiot zainteresowań autora w okresie poprzedzającym pisanie pracy. W toku studiów okazało się, że bodźcowa rola stopy procentowej,jakkolwiek ważna, stanowi jednak niewystarczającą podstawą teoretyczną dla ukazania znaczenia tej kategorii w gospodarce socjalistycznej. Znalazło to odzwierciedlenie w pracy w akcentowaniu alokacyjnej funkcji stopy procentowej i jej roli w rachunku ekonomicznym.

The article sets forth to analyze the role which is fulfilled by the interest rate category in socialist economy. The analysis is contained in four chapters. In the first chapter there are analyzed functions of the interest rate in selection of production methods with the assumed structure of final production in particular industrial branches. At this stage of analysis, the level of the interest rate is treated as known one. On the other hand, the problem of fixing the level of this parameter is highly complicated in the socialist economy. The second chapter is devoted to analysis of the level of the interest rate. There are analyzed here relationships between the interest rate and the economic growth rate, conditions in which the interest rate understood as final productivity of the fixed assets is equal in its level to the final substitution rate, and some attempts at determination of the interest rate on the bas is of mathematical programming models and the level of capital-output ratio. The author expresses a view that determination of the interest rate on the basis of mathematical programming models would correspond most closely to the level of this category in the socialist economy. He also proves that the interest rate is equal to the economic growth rate in the situation when there is implemented in the economy the so-called "golden rule of accumulation”. It is only in these conditions that the interest rate understood as final capital productivity is equal to the final substitution rate of investment outlays and employment. In chapter three there is rejected an assumption concerning a given structure of final production and there is analyzed the scope of allocation functions of the law of value in the socialist economy. It is also proved that if we accept the conformity of the anticipated realization prices with unit costs as a criterion of the optimal production structure then there does not need to exist such interest rate with which the production structure will be optimal and simultaneously this rate will ensure the balance between investment means and employment in the investment plan. The search for an interest rate fulfilling the above mentioned conditions on the way of consecutive attempts does not guarantee a convergence of the process of simultaneous optimization of production methods and structure. The interest rate finds also its application in case of the active capital production resources being exploited at a given time. In the fourth chapter there is analyzed the Importance of interest on production means in manipulation of decision of socialist economic organizations.