Some Problems of the International Socialist Monetary System

The article examines whether mutual advantages are realized in the exchange of products of different capital intensity in the trade between CMEA countries or whether they are created only through the investment contributions. According to the author neither the deviations of CMEA prices from world market prices nor the capital savings attainable through potential import substitution provide sufficient grounds for challanging the existence of mutual advantages. However, the problem' of investment credits is unsolved under the present conditions of the CMEA financial system. For bringing about a mechanism of economic cooperation that would create generally favourable conditions for international credits further steps are needed.