This book offers the most comprehensive empirical analysis of the economic transformation of the countries comprising the former Soviet bloc during the first decade after communism. It debunks many myths, seeing transition as a struggle between radical reformers and those thriving on rent seeking. Privatization has undoubtedly been beneficial, and its positive effects will grow over time. The main problem has been the continuation of large, unregulated and ubiquitous state apparatuses living on corruption, while no country has suffered from too radical reforms. Where malpractices of the elite can be checked, market reforms and democracy have proceeded together.
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Book Description
Editorial Reviews
Review
"Is there anything inevitable about the sharpness of Russia's economic mood swings? Useful evidence for anyone considering this conundrum is provided by...the...technical economic analysis offered by veteran Russia-watchers as Anders Aslund." The Economist
"A fact-filled and challenging analysis for anyone interested in one of the great transformations of the past half-century." Foreign Affairs
"Building Capitalism stands out as a comprehensive economic history of the postcommunist transformation...Written in a clear and engaging style, the book leads the reader through the main stages of this great drama...Overall, the book provides a tour through more than a decade of transition history, with one of the most knowledgeable and erudite experts in the field as the guide." Finance & Development
"...no previous works match this volume in depth, detail, and comprehensiveness...A must acquisition for collections in transition economics; highly recommended to specialists and upper-division undergraduate and graduate students." Choice
"... a broad, comparative study." Comparative Politics
"A fact-filled and challenging analysis for anyone interested in one of the great transformations of the past half-century." Foreign Affairs
"Building Capitalism stands out as a comprehensive economic history of the postcommunist transformation...Written in a clear and engaging style, the book leads the reader through the main stages of this great drama...Overall, the book provides a tour through more than a decade of transition history, with one of the most knowledgeable and erudite experts in the field as the guide." Finance & Development
"...no previous works match this volume in depth, detail, and comprehensiveness...A must acquisition for collections in transition economics; highly recommended to specialists and upper-division undergraduate and graduate students." Choice
"... a broad, comparative study." Comparative Politics
Book Description
This book offers the most comprehensive empirical analysis of the economic transformation of the countries comprising the former Soviet bloc during the first decade after communism. It debunks many myths, seeing transition as a struggle between radical reformers and those thriving on rent seeking. Privatization has undoubtedly been beneficial, and its positive effects will grow over time. The main problem has been the continuation of large, unregulated and ubiquitous state apparatuses living on corruption, while no country has suffered from too radical reforms. Where malpractices of the elite can be checked, market reforms and democracy have proceeded together.
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14 of 32 people found the following review helpful:
1.0 out of 5 stars
Market Bolshevism,
By Christopher Freeberg (University of Chicago) - See all my reviews
This review is from: Building Capitalism: The Transformation of the Former Soviet Bloc (Paperback)
Aslund can only be described as a right-wing free market ideologue bent on coloring the Post-Soviet transition in the most glowing terms for free markets and the IMF. Read any unbiased author and some clear and valid critiques of the "shock therapy" economics that Russia endured are explained. Aslund, on the other hand believes that a problem like crime, endemic in post-Soviet Russia, only occurs because of the imperfect transition to completely free markets. Believing that once the markets are completely free and unfettered crime will magically disappear as the economic incentive decrease and opportunity costs rise. Thouroughly unconving to me, or anyone else who believes in the costs of social turmoil.Read this book only if you want to know how the "Washington Consensus" works and the lengths that one of their own will go to justify (at times the justification is so one sided it is humorous, is anyone comforted that the murder rate in Russia is still only a fraction of Colombia's?, Aslund, apparently is....) their damaging and ill-conceived policies.
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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financial stabilization, enterprise funds, value detraction, intermediary reformers, underreform trap, successful reform countries, reformist countries, implicit trade subsidies, structural reform index, cheap state credits, building capitalism, market economic transformation, most postcommunist countries, gradual reformers, state enterprise managers, partial reformers, investment tenders, ruble zone, management theft, state trading system, state bank system, unsalable goods, enterprise subsidies, insider privatization, suboptimal equilibria Key Phrases - Capitalized Phrases (CAPs): (learn more)
Soviet Union, Czech Republic, Central Europe, World Bank, Baltics Estonia, South-East Europe Romania, Communist Party, United States, West European, East Germany, Strategic Policy Choices, Role of the Outside World, Western Europe, West German, Central Bank, World War, European Union, Ministry of Finance, Freedom House, Yegor Gaidar, United Kingdom, President Yeltsin, Latin America, Leszek Balcerowicz, Central Asia Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
financial stabilization, enterprise funds, value detraction, intermediary reformers, underreform trap, successful reform countries, reformist countries, implicit trade subsidies, structural reform index, cheap state credits, building capitalism, market economic transformation, most postcommunist countries, gradual reformers, state enterprise managers, partial reformers, investment tenders, ruble zone, management theft, state trading system, state bank system, unsalable goods, enterprise subsidies, insider privatization, suboptimal equilibria Key Phrases - Capitalized Phrases (CAPs): (learn more)
Soviet Union, Czech Republic, Central Europe, World Bank, Baltics Estonia, South-East Europe Romania, Communist Party, United States, West European, East Germany, Strategic Policy Choices, Role of the Outside World, Western Europe, West German, Central Bank, World War, European Union, Ministry of Finance, Freedom House, Yegor Gaidar, United Kingdom, President Yeltsin, Latin America, Leszek Balcerowicz, Central Asia Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
Citations (learn more)
23
books
cite this book:
See all 23 books citing this book
- Russia in the 21st Century: The Prodigal Superpower by Steven Rosefielde in Back Matter (1), and Back Matter (2)
- The Resource Curse in a Post-Communist Regime: Russia in Comparative Perspective by Younkyoo Kim on page 15, and Back Matter
- Popular Choice and Managed Democracy: The Russian Elections of 1999 and 2000 by Timothy J. Colton in Back Matter (1), and Back Matter (2)
- Russia in the 21st Century: The Prodigal Superpower by Steven Rosefielde in Back Matter (1), and Back Matter (2)
- Central Asia's Second Chance by Martha Brill Olcott in Back Matter (1), and Back Matter (2)
See all 23 books citing this book
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