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:
“Unless a group of workers know their work is under surveillance, that they are being rated as fairly as human beings, with the fallibility that goes with human judgment, can rate them, and that at least an attempt is made to measure their worth to an organization in relative terms, they are likely to sink back on length of service as the sole reason for retention and promotion.”
—Mary Barnett Gilson (1877–?)
“I would wish that the women of our country could embrace ... [the responsibilities] of citizenship as peculiarly their own. If they could apply their higher sense of service and responsibility, their freshness of enthusiasm, their capacity for organization to this problem, it would become, as it should become, an issue of profound patriotism. The whole plane of political life would be lifted.”
—Herbert Hoover (1874–1964)
“The methods by which a trade union can alone act, are necessarily destructive; its organization is necessarily tyrannical.”
—Henry George (1839–1897)