Overview

This is a critical analysis of the workings of a planned economy versus that of a market economy. The authors expound the principles of market economics in the context of the main problems facing economies in transition from a centrally planned economy to a market structure, namely privatization, the role of money, environmental policy, and international trade. Examples and real-life experiences, rather than formal equations, are employed to bring home vital points, making the book accessible to the reader without formal training in economics. Although the focus is on Central and Eastern Europe, the discussion is also relevant to the privatization process in market economies and serves as a useful introduction to general economic principles.

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9780198773573

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Easy to read, each part has some delightful pace-setting opening statements, concise lectures on basic concepts with added supplementary explanatory examples....Separate chapters or smaller sections give much needed comparative discussions on the centrally planned economies, contrasting them with consumer-oriented systems....The work is recommended for all those who are or should be interested in relating current policy debates to principles of market economics. --Journal of Baltic Studies (NOTE: quote taken from draft of review, do not use until review is printed--most likely in late 1993)<br>

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