The Politics of Greed: How Privatization Structured Politics in Central and Eastern Europe

With the dissolution of the Soviet Empire, it seemed that market capitalism had triumphed and that democracy might replace authoritarian regimes. Economic reformers in the former Eastern Bloc rushed to liberalize prices and transfer state assets to private hands. They assumed that private owners in a market setting would have no choice but to behave rationally_that is, to invest in restructuring privatized enterprises so as to maximize profits. They also assumed that these owners would perc...