Wings To Yugoslavia (1964)

[The Lawspeaker]

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Wings To Yugoslavia (1964)


A tour of Yugoslavia in the 1960s by Pan Am

[Guapo]

Yugoslavia was too strong and stable for a "socialist/communist east European" country which is why it was destroyed by the west.

[The Lawspeaker]

For what I have seen so far (this is of course an American travelogue) it seems to have been a very stable nation based on a novel approach (and much milder and less dogmatic too !) approach to socialism.

It's a shame that I never got to see it before it was wiped off the map.

[Guapo]

[FONT="Tahoma"]For what I have seen so far (this is of course an American travelogue) it seems to have been a very stable nation based on a novel approach (and much milder and less dogmatic too !) approach to socialism.

Yugoslavia essentially went Revisionist after the break with the Soviet bloc. By the 1970s, the British economy was more socialistic than the Yugoslav economy. Yugoslavia boasted one the happiest working classes in the world. Companies were state owned, there was free health care and free education up to university including the right to have a job. No unemployed and no beggars.

There were large scale landowner agrarians in Yugoslavia but they couldn't exploit their workers like say, Dole or any Western MNC. Unless I'm mistaken, even the large landowners had to operate on a 51:49 profit sharing agreement w/ the provincial government + the workers' expenses etc. got covered from that amount. Tito had a mixed economy, but it was a far cry from a capitalist one. He followed Nehruvian Socialism.

[The Lawspeaker]

But it worked.

[Guapo]

But it worked.

Even though inflation in Yugoslavia during the 1980s was one of the worst hyperinflations the world has ever seen. Yugoslav inflation shares common elements with inflation in other highly indebted countries despite appearances otherwise. Like these other countries, Yugoslavia failed to make internal adjustments to match a large transfer to resources abroad, resulting in a large internal redistribution to real resources through inflation. However, in Yugoslavia these internal conditions were not transparent. Instead of an open fiscal deficit, complex interactions took place among enterprises, banks, and the central bank, involving the central bank's absorption and servicing of a large stock of foreign exchange liabilities.

Failure to correct hidden losses in the economy was the main reason that various stabilization attempts failed during the 1980s. The 1990 program was the first to recognize the existence of those hidden losses and the need for a fiscal correction. The program succeeded in eliminating the central bank's own deficit and was initially successful infighting inflation, but pressures to finance enterprises and avoid a liquidity crisis in the financial system resulted in a relaxation of monetary policy and a revival of inflation. Seen from this angle, the Yugoslav program of 1990 resembles other heterodox programs that had initial success in reducing inflation but later faltered because of an insufficient fiscal adjustment.

[poiuytrewq0987]

Yugoslavia would've been an excellent platform to use to bring about economic prosperity and a strong self-defense force for the six republics. Instead we chose to part ways after a bloody war and become puppets of the NATO and to be consumed by the anti-European European Union.