Market Socialism or the Restoration of Capitalism? (International Council for Central and East European Studies)

The collapse of communism in Eastern Europe has raised a number of questions concerning the future course of their economies. Has capitalism won or is something different emerging? Has market socialism vanished for good? How can the transitionary period be managed and what effect will it have on the standard of living in Eastern Europe? In this book, ten distinguished experts illuminate what this transition process to a market economy really means. They explore what remains of market socialism, the development of economic thinking and policy making, and distribution aspects of the Soviet economy under Perestroika. Contents......Page 8 Notes on contributors......Page 10 Introduction......Page 12 Part I Market socialism revisited......Page 16 1 The compatibility of planning and market reconsidered......Page 18 2 Market socialism: the model that might have been but never was......Page 28 3 Monetary-fiscal management for macroeconomic equilibrium and growth......Page 43 Part II Economic thinking and policy-making......Page 56 4 The possible new role of market and planning in Poland and Hungary......Page 58 5 Rationalizing the centrally managed economy: the market......Page 78 6 Changes in Soviet economic policy making in 1989 and 1990......Page 103 7 The restructuring of Soviet industrial ministries since 1985......Page 132 Part III Effects of perestroika on Soviet life......Page 154 8 Employment and the reallocation of labour in the USSR......Page 156 9 Changes in income inequality in the USSR......Page 183 10 Estonia's economic development 1940-1990 in comparison with Finland's......Page 205 Index......Page 220 When East European communism collapsed in the revolutions of 1989, the newly liberated countries discarded socialism altogether. For the first time, most of Eastern Europe experienced free elections and a multitude of parties, mostly with liberal, conservative or nationalist connotations, made their entry into political life. A bewildered world is now trying to imagine the future course of events. Has capitalism won or is something different emerging? Has market socialism vanished for good? How can the transitionary period be managed and what effect will it have on the standard of living in Eastern Europe? In this book, ten distinguished experts explore this transition to a market economy in Eastern Europe. Market Socialism or the Restoration of Capitalism? presents a collection of thought-provoking articles and will therefore be essential reading for all students and specialists of Soviet and East European studies, economics and politics. When East European communism collapsed in the revolutions of 1989, the newly liberated countries discarded socialism altogether. For the first time, most of Eastern Europe experienced free elections and a multitude of parties. In this book, ten distinguished experts explore the transition to a market economy in Eastern Europe. Offers the views of 10 specialists on the implications of the current transition process in Eastern Europe to a market economy. They explore what remains of market socialism, the development of economic thinking and policy-making and distribution aspects of the Soviet economy under perestroika