POST-COMMUNIST CAPITALISM: STILL ELUSIVE

Sorin Burnete
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Sorin Burnete: Lucian Blaga University of Sibiu, Romania

Revista Economica, 2015, vol. 67, issue 6, 21-29

Abstract: The failure of communism prompted Central and East European nations to opt for capitalism. Yet the central-planning heritage, especially the traces the latter has left in the people's minds, has rendered capitalism's rules hardly applicable in the newly emerged market economies. The difficulty has been further compounded by the effects of the recent global economic crisis, which has severely dented the trust in capitalism as a whole, especially the liberal American-type, where unrestricted financial markets make the rule.

Keywords: property; capitalism; communism; market economy; market socialism (search for similar items in EconPapers)
JEL-codes: B24 B25 (search for similar items in EconPapers)
Date: 2015
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