Defining and Defending a Progressive Market Square: Bringing Institutionalist Development Discourse in Line with the Reality of Post-Soviet Transition Experiences
Journal of Economic Issues, 2020, vol. 54, issue 2, 385-391
This article is a response to two crucial ideas about progressive institutional change: the first is J. Fagg Foster’s principle of “minimal social dislocation,” which asserts that socio-economic changes should be implemented gradually, to avoid unraveling the social fabric of the community; the second is Karl Polanyi’s principles of redistribution of rights and powers by relevant authorities and reciprocity, a symmetrical and highly personalized exchange system, which is likewise a protective mechanism that society employs against anonymity and disintegration brought about by unregulated market. Using lessons learned in the thirty-year transition to market in post-Soviet countries, this article argues that to commence progressive institutional change in the honesty- and transparency-resistant cultures of former Soviet states, impersonal exchange and impartial rule of law must be given far greater weight than personalization of contacts and continuation of cultural traditions.
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Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:54:y:2020:i:2:p:385-391
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