Organization
Under the Czechoslovak system, foreign trade was a state monopoly, supervised by the central Ministry of Foreign Trade. The ministry oversaw the operation of about thirty foreign trade enterprises. As intermediaries between the domestic export producers or import purchasers and the external market, the enterprises were responsible for arranging contracts as well as for financing and generally supervising Czechoslovak foreign trade, usually setting prices that have little connection with domestic production factors.
The foreign trade companies bought Czechoslovak goods for export at domestic prices and sold foreign goods to Czechoslovak customers at domestic prices; but the other half of these transactions, involving actual foreign trade, took place in foreign currencies in foreign markets. The government budget then made adjustments to compensate for any unwanted gains and losses caused by varying foreign and domestic prices.
Read more about this topic: Foreign Trade Of Communist Czechoslovakia
Famous quotes containing the word organization:
“... every woman’s organization recognizes that reformers are far more common than feminists, that the passion to look after your fellow man, and especially woman, to do good to her in your way is far more common than the desire to put into every one’s hand the power to look after themselves.”
—Crystal Eastman (1881–1928)
“In any great organization it is far, far safer to be wrong with the majority than to be right alone.”
—John Kenneth Galbraith (b. 1908)
“When a man’s partner’s killed, he’s supposed to do something about it. It doesn’t make any difference what you thought of him, he was your partner and you’re supposed to do something about it. As it happens, we’re in the detective business; well, when one of your organization gets killed, it’s, it’s bad business to let the killer get away with it. Bad all around. Bad for every detective everywhere.”
—John Huston (1906–1987)