Overview

The revolutionary changes of 1989 have seen most of the centrally planned economies finalizing a long process of discarding the restraints of planning. These changes involve economic moves to decentralize economic decision-making, introduce market mechanisms and privatize state-owned property. A central thesis of this book is that an uncritical acceptance of the market mechanism will not lead to greater efficiency or increased output. Rather, it may result in more economic problems. The economic reform movement is critically evaluated by economists from a number of different countries. They provide a critique of the standard neo-classical position which has been used to justify the reforms. The book offers an alternative route to economic reform based on Post-Keynesian and Kaleckian traditions, that combines both individual diversity as well as control over key sectors to maintain an acceptable level of economic stability and growth.

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9781852784386

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Reviews

'This excellent collection of articles serves as an argument for caution in interpreting where the formerly socialist economics are going... or why they began their transition to whatever in the late 1980s... This book provides a valuable collection of essays coherently addressed to this important historical moment and process... Social economists should be particularly interested in this book's descriptions of, and central concern with, the social costs of these historical transformations. The essays are uniformly well written and easily accessible to an undergraduate student.' -- Christopher J. Niggle, Review of Social Economy

Author Information

Edited by Mark Knell, NIFU Nordic Institute for Studies in Innovation, Research and Education, Norway and Christine Rider, Associate Dean, College of Business Administration, St John’s University, US

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