Perceptions

Gary Magee and Wayne Geerling

Chapter Chapter 1 in Socialism with a Human Face, 2022, pp 1-18 from Palgrave Macmillan

Abstract: Abstract In this chapter, a survey of East German economic history is undertaken and important gaps in our understanding are identified. Key among these is the observation that recent work in the field has tended to focus on what is seen as the system’s inevitable failure. Yet, East Germany’s economic history was always much more diverse than that. While there is no doubt that the system was grossly inefficient, it was nevertheless capable of functioning at some tolerable, if rarely optimal, level. By peeling away the layers of rhetoric and assumptions and exploring this ability to function with new techniques drawn from behavioural economics, a richer understanding of East German economic history becomes possible.

Keywords: East German economic history; Planned economies; Normalisation thesis; Socialist system (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_1

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DOI: 10.1007/978-981-19-0664-0_1

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