Conclusion

Gary Magee and Wayne Geerling

Chapter Chapter 7 in Socialism with a Human Face, 2022, pp 313-338 from Palgrave Macmillan

Abstract: Abstract This chapter brings together the different threads of analysis explored in preceding chapters. It discusses how the adoption of a behavioural economics approach to East German economic history can alter some of the common perceptions and beliefs about how Soviet-style economic systems operated. The new outlooks it generates, of course, do not change the basic facts, but they offer readers and future researchers a way of escaping the vestiges and legacies of the Cold War rivalry that linger and, in our view, often oversimplify aspects of the economic history of East Germany. The chapter concludes with some reflections on what our analysis of behaviour and decision-making in East Germany means for the understanding of its demise.

Keywords: East German economic history; Information cascades; Prospect theory; Collapse of the GDR (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-981-19-0664-0_7

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DOI: 10.1007/978-981-19-0664-0_7

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