Explanation: On the margins of these developments, it is interesting to note the developments that occured in the state economies of the time.

• It was Oscar Lange (1904–65), the Polish philosopher, who in 1950s suggested the same things for the socialist economy as Keynes had suggested for the capitalist economy.
• Lange praised the state economy for many of its good things, but also suggested inclusion of some of the good things of the capitalistic economy.
• He advised the state economies to adopt ‘market socialism’ (the term was coined by him).

Source: Ramesh Singh