1945

ECAFE countries differ in regard to the relative importance of supplies from abroad as a part of the aggregate volume of current resources available for allocation. They also differ in the proportions normally claimed by investment and consumption. From one point of view, the claims of the government for its current needs and the private and governmental claims for investment may be considered as autonomous factors; what is left over is—ignoring changes in stocks—the supply of goods and services available to private citizens, and largely determines their current level of living. In centrally planned economies, this volume of goods and services is described as saleable output, as distinct from the output retained by the government for aggregate investment and its own current needs.

Related Subject(s): Economic and Social Development
Sustainable Development Goals:
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