Market Socialism or the Restoration of Capitalism [Hardcover]

In this book, ten distinguished experts explore the transition to a market economy in Eastern Europe.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.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.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.Introduction Anders Aslund; Part I. Market Socialism Revisited: 1. The compatibility of planning and market reconsidered Wlodzimierz Brus; 2. Market socialism: the model that might have been but never was Domenico Mario Nuti; 3. Monetary-fiscal management for macroeconomic equilibrium and growth Gerhard Fink; Part II. Economic Thinking and Policy-Making: 4. The possible new role of market and planning in Poland and Hungary Jan Adam; 5. Rationalizing the centrally managed economy: the market Pekka Sutela; 6. Changes in Soviet economic policy-making in 1989 and 1990 Anders Aslund; 7. The restructuring of Sovietló«