Liberal Reformism and Declining Capital Formation in Hungary: The Developing Capitalist Sector Is Its Only Frontier But This Threatens the Party Dictatorship

John B. Hall

American Journal of Economics and Sociology, 1989, vol. 48, issue 4, 473-488

Abstract: Abstract. Of countries noted for having an Eastern type of economic system, Hungary is commonly touted for the successful, market‐type reforms applied to the management of its economy. The commonly held notion that these reforms have been successful is challenged. It is argued that the reforms have never been implemented as was intended, and this has consequently resulted in macro and microeconomic planning policy to be administered in a varying fashion; also that the new direction in planning policy is seeking to implement fundamental changes regarding the formation and growth of private eriteprise a response to the problems facing Hungary's State‐owned sector. This development is noted to be causing profound changes in Hungary's economy, while also having a disequilibrating effect on the composition of classes in Hungarian society.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ajecsc:v:48:y:1989:i:4:p:473-488

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