Is the transition to the market too important to be left to the market?

Peter J. Boettke () and Peter T. Leeson ()

Economic Affairs, 2003, vol. 23, issue 1, pages 33-39

Abstract: Most models of Central and Eastern European transition fail to appreciate the "de facto" organising principles that governed life in the Soviet--type system. Concentration has instead been focused on the "de jure" pronouncements of what constituted these systems. It is this misidentification, we contend, that has caused the major problems for economists devising strategies for reform. Proper appreciation of the "de fact"o realities underlying Soviet--type economies sheds light on the crucial role that market forces must be allowed to play in the process of transition. Copyright Institute of Economic Affairs 2003

Date: 2003
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