Econometrica: May 1973, Volume 41, Issue 3

Autonomous Control of the Economic System

https://doi.org/0012-9682(197305)41:3<509:ACOTES>2.0.CO;2-Q
p. 509-528

Bela Martos, Janos Kornai

The possible impact of autonomous control (vs. the price mechanism and directive control) on the functioning of an economic system is studied. It sheds some light on similarities among economic systems that are quite different in their higher functioning. The survival and stability conditions for a Leontief-type economy demonstrate the role stock signals can play in controlling the behavior of producers and consumers.

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