Khozraschet
Khozraschet
Principle of profitability and accountability in Soviet economic planning
Khozraschet[lower-alpha 1] (Russian: хозрасчёт, IPA: [ˌxozrɐˈɕːɵt]; short for хозяйственный расчёт khoziaistvennyi raschet, 'economic accounting') was an attempt to simulate the capitalist concepts of profit and profit center into the planned economy of the Soviet Union, implying an even distribution of a portion of the profit to the employees. Khozraschet provided for self-management and self-financing within the framework of prices set by the Soviet government.[1]