The Market Meets its Match: Restructuring the Economies of Eastern Europe by Alice AmsdenThe Market Meets its Match: Restructuring the Economies of Eastern Europe by Alice Amsden

The Market Meets its Match: Restructuring the Economies of Eastern Europe

byAlice Amsden, Jacek Kochanowicz, Lance Taylor

Paperback

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Under free-market shock therapy, many of the economies of the former socialist countries of Eastern Europe have declined. Why has there been so much stagnation, inflation, and de-industrialization, and what can be done to turn this risky state of affairs around? The first critique of the free-market economic policies that have shocked Eastern Europe, this book addresses these questions in revealing detail.
Alice H. Amsden is the Ellen Swallow Richards Professor of Political Economy at the Massachusetts Institute of Technology.
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Title:The Market Meets its Match: Restructuring the Economies of Eastern EuropeFormat:PaperbackDimensions:232 pagesPublisher:HarvardLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0674549848

ISBN - 13:9780674549845

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Table of Contents

Preface

From Pseudo-Socialism to Pseudo-Capitalism

Transition Macroeconomics

The Black Box of State-Owned Enterprises

Overloading the Market Mechanism

Pseudo-Privatization and the World Bank

Enterprise and the State

Challenges Facing the State

Reconstructing the State

Economy, Society, and the State

Notes

References

Index

From Our Editors

Under free-market shock therapy, the economies of Eastern Europe have plunged into crisis. Shortages may have disappeared, but so have social services, a living wage, and equitable income distribution. Political unrest increases apace as output plummets. Why so much stagnation, inflation, and de-industrialization, and what can be done to turn this risky state of affairs around? This book, the first critique of the free-market economic policies that have jolted Eastern Europe, addresses these questions in penetrating detail. The authors also propose a sensible approach to reform, including a restructuring of the state itself so that it can play a more positive role in this difficult transition. With close attention to the history and institutional realities of the region, The Market Meets Its Match explains the failure of the simplistic market medicine administered in the first five years of transition. Merely "getting the prices right" - lowering wages and raising interest rates and energy prices - won't improve competitiveness, the authors argue, as long as nonla

Editorial Reviews

A highly readable and extremely convincing account of why the strategies adopted by east European governments have failed. [The authors] argue that these governments adopted a free-market, neo-classical model of capitalist development, totally inappropriate to their condition and history, and one which did not reflect the way advanced capitalist countries had themselves developed.