Lessons from the Failure of the Communist Economic System

Lessons from the Failure of the Communist Economic System

by Ladislav Rusmich, Stephen M. Sachs
     
 

ISBN-10: 0739105167

ISBN-13: 9780739105160

Pub. Date: 06/15/2003

Publisher: Lexington Books

Rusmich (formerly an economist at the Czech National Bank) and Sachs (emeritus, political science, Indiana U.-Purdue U. Indianapolis, US) argue that the examination of the real functioning of the Soviet "socialist" economic system not only allows for objective evaluation of Soviet realities, but also leads to general conclusions relevant to developed market economics.

Overview

Rusmich (formerly an economist at the Czech National Bank) and Sachs (emeritus, political science, Indiana U.-Purdue U. Indianapolis, US) argue that the examination of the real functioning of the Soviet "socialist" economic system not only allows for objective evaluation of Soviet realities, but also leads to general conclusions relevant to developed market economics. After describing the functioning of the Soviet economies, they look at the impact of the communist ideology on the formation of neoliberal economics, suggesting that it had a distorting effect on the work of F.A. Hayek and others attempting to oppose it with their own ideologies. Finally, the offer prescriptions for the "transition" economies based on their understanding of the irrationalities of socialist economies. Annotation ©2003 Book News, Inc., Portland, OR

Product Details

ISBN-13:
9780739105160
Publisher:
Lexington Books
Publication date:
06/15/2003
Pages:
388
Product dimensions:
6.24(w) x 9.28(h) x 1.33(d)

Table of Contents

Part 1 A Costly Experience Chapter 2 What Was it that Failed and Why? Chapter 3 The Case of Czechoslovakia Chapter 4 Where it has Ended Up Concerning the Economy Part 5 The World Wide Lessons from the Failure Chapter 6 The Sources of Knowledge Chapter 7 The Behavior of Economic Subjects Chapter 8 The Market and Ownership Chapter 9 Economy and Power Chapter 10 Market Culture and Ethics Chapter 11 The Prospects for Development of the Economic System Part 12 The Economic Transformation of European Postcommunist Countries Chapter 13 The Legacy of Communism and the Beginning of Its Economic Transformation Chapter 14 The course and Problems of the Transformation Process Chapter 15 What to do?

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