Market Failure

Market Failure : A Guide to Eastern Europe's Economic Miracle

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During the 1980s, there was increasing pressure exerted on various Eastern European societies to "structurally adjust" their economies to the international market. The authors of this text argue that this process did not deliver any of the benefits which were promised - rather a structural economic crisis has been transmitted to the region. Why is this reform process failing? Starting from a non-technical viewpoint, the theoretical and practical inadequacies of present policies are analyzed, providing pointers to the kinds of policies which might provide a more rational alternative.
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Product details

  • Paperback | 224 pages
  • 134.62 x 213.36 x 17.78mm | 317.51g
  • London, United Kingdom
  • English
  • notes, bibliography, index
  • 0745308856
  • 9780745308852

Table of contents

The long march to the market; the cold peace; the great bourgeois cultural revolution; price wars; the harder they come...; nouveau nomenklatura; the scissors; polarities; left turn?; dark clouds and spectral hopes.
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Review quote

"Andor and Summers strip through the false optimism." -- The Guardian(London) "In a forceful critique of Eastern Europe s economic miracle, the authors trace the origins of the transformation and assess its consequences. They argue that the Western-inspired race to dismantle the region s state-controlled economies after 1989 was deliberately aimed at preventing the rise of social democracy." Book News, Inc.
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