Russia's Warped Transition: The Destructive Consequences of Ethically Unconstrained Utility Seeking

Steven Rosefielde ()
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Steven Rosefielde: Department of Economics, University of North Carolina

Eastern Economic Journal, 1999, vol. 25, issue 4, 459-476

Abstract: The Russian transition economy is best understood as a system that decriminalizes all power-seeking behaviors proscribed by textbook general competition. It is failing because the government sanctions oligopoly, monopoly, asset-grabbing, rent-seeking, elite misappropriation of state funds, the mis-administration of state assets, the mis-regulation of the private sector, and the forced suppression of competition. The efficiency losses caused by these abuses are examined in the factor, product, finance, distribution, and redistribution markets. The analysis suggests that the Russian economy won't recover until it empowers competitive efficiency and recriminalizes private and social exploitation.

JEL-codes: L33 P21 P31 (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:25:y:1999:i:4:p:459-476

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