Mr. Mladek, Acting Director of the European and North American Department, is a graduate of the Masaryk University in Czechoslovakia. He was connected with Czechoslovak industrial concerns and later was Director of the Currency and Banking Department in the Ministry of Finance and Executive Director of the National Bank of Czechoslovakia. During the war he was a delegate to various international conferences, including Bretton Woods. He served in the Fund as Executive Director until 1948.
Mr. Sturc, Assistant Director of the European and North American Department, is a graduate of the University of Bratislava and the University of Chicago. He was formerly Deputy Director of the Czechoslovak Government Information Service in the United States, and a member of the Czechoslovak delegation to the Bretton Woods and San Francisco Conferences.
Mr. Wyczalkowski, Chief of the Central and Eastern European Division, was educated at the Academy of Commerce, Warsaw, and the London School of Economics. He was formerly deputy Professor and deputy Rector of the Academy of Commerce, Warsaw, and Director of the Research Department of the National Bank of Poland. He is the author of Money in the Capitalist System and in Planned Economy, Vol. I, and Economic Institutions of the United Nations, both in Polish.
The working of this model in the U.S.S.R. is more fully analyzed in “The Soviet Price System and the Ruble Exchange Rate,” by Marcin R. Wyczalkowski, Staff Papers, Vol. I, pp. 203-23 (September 1950).
A similar decrease in the possibilities of agricultural exports is characteristic of all the Eastern European members of the Soviet bloc.
Permanent wages are now officially described as “minimum wages.”
In the wage funds now operating there is no distinction between permanent (“minimum”) and variable wages.
The present share in total wage earnings of earnings paid out of profits is not known.
By the middle of 1952, enterprises were, however, reported to be almost completely free.
The reorganization is reported to have reached by the middle of 1952 the stage where managers were elected by the employees of an enterprise.
The new change in the exchange system in Yugoslavia introduced on July 1, 1952 has not been taken into account in this article.
In fulfillment of this program the Yugoslav Government introduced on January 1, 1952, i.e., simultaneously with the establishment of the new par value, a number of coefficients to be applied to the parity rate, varying according to groups of exports and imports. Although this meant explicit multiple rates, such a system represents progress in comparison to the previously existing system where there were almost as many implicit rates as there were trade transactions.