Lessons from the Failure of the Communist Economic System

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Lexington Books, 2004 - 380 páginas
Why have the neoliberal economic programs, aimed at transforming Eastern Europe to a market economy and democracy since 1989, not only experienced unanticipated difficulties, but more importantly failed to achieve their expected progress? Dr. Ladislav Rusmich and Dr. Stephen M. Sachs offer a comprehensive and critical study that examines this specific question and concludes that the cultural and institutional conditions created by communism must be overcome in order to critique previous policies and propose a better direction. Drawing on the experiences of Dr. Rusmich, who for many years was an important participant in the communist economic apparatus, and who is also among the leaders attempting to reform it during the Prague Spring of 1968, this work corrects common misconceptions among mainstream economists about the workings of communist economies. Lessons from the Failure of the Communist Economic System is a first-hand expert account that provides useful economic lessons, applicable to the first world, concerning such topics as the role of power in the economy, monopoly, bureaucracy, market culture and ethics to name a few.

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Contenido

What Was It That Failed and Why?
3
The Case of Czechoslovakia
35
Where It Has Ended Up Concerning the Economy
61
The Sources of Knowledge
85
The Behavior of Economic Subjects
103
The Market and Ownership
121
Economy and Power
139
Market Culture and Ethics
163
The Prospects for Development of the Economic System
177
The Legacy of Communism and the Beginning of Its Economic Transformation
225
The Course and Problems of the Transformation Process
267
What to Do?
321
Bibliography
337
Index
357
About the Authors
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Acerca del autor (2004)

Stephen M. Sachs is a professor in the Department of Political Science at Indiana University, Purdue University, Indianapolis. Ladislav Rusmich has served in numerous industrial, economic, and administrative position in Czechoslovakia, including Vice-Governor of the Czechoslovakia State Bank and economist at the Czech National Bank.

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