From Shock to Therapy: The Political Economy of Postsocialist Transformation

The great transformation undertaken by the countries of the former communist bloc exhibits immense diversity in terms of initial conditions, shifting target models, consistency, paths, speed, progress to date, and economic performance. This text presents a comprehensive study of the economics and politics of post-socialism, written by an author who is deeply involved in the reform process Many people writing on the reform process offer advice that is not really credible. As a member of the Polish government, and architect of the successful Polish reform, Grzegorz Kolodko actually solved many of the difficulties of transition, which allows him to come forward here with policy proposals and long-term forecasts. The treatment of the transition from plan to market as a historical process is an important feature of the book. The author claims that there is no historical fatality that sound policies in the present are more determining than the favourable or unfavourable legacies of the past. The aim is to create and maintain the conditions for sustainable growth and durable development.

Review:

worth having in one's library SEER, Vol.79, No.3 this is one of the best treatments of the transformation process thus far available SEER, Vol.79, No.3 His [Kolodko] analysis of the old system and where it went wrong under the megalomaniacal dominance of Soviet leaders is a valuable contribution to our understanding of the past and present in the region SEER, Vol.79, No.3 provides a highly readable and sensible critique of the so-called 'Washington consensus' on the recipe for transformation of former Soviet-type economics SEER, Vol.79, No.3