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Evolutionary and Radical Approaches to Economic Reform

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  • Murrell, Peter

Abstract

At the end of 1989, most economists agreed that the optimal approach to socialist economic reform involved immediate destruction of old institutions and rapid conversion to capitalist arrangements. This approach is called the radical one. The evolutionary approach has always offered an alternative program of reform. The paper discusses the recent breakdown in the radical consensus and provides a general overview of the evolutionary approach. Two conceptually distinct sets of evolutionary theories are examined--evolutionary economics and conservative political philosophy. Drawing upon these existing theories, the paper builds the rudiments of a single philosophy of evolutionary reform. The evolutionary and radical schemes are then compared. Their different implications for the speed of reform, the use of the old institutions, the magnitude of single elements of reform, and the use of theory are highlighted. Copyright 1992 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Economics of Planning.

Volume (Year): 25 (1992)
Issue (Month): 1 ()
Pages: 79-95

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Handle: RePEc:kap:ecopln:v:25:y:1992:i:1:p:79-95

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Web page: http://www.springerlink.com/link.asp?id=113294

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Cited by:
  1. Blangiewicz, Maria & Charemza, Wojciech W., 1999. "East European Economic Reform: Some Simulations on a Structural Vector Autoregressive Model," Journal of Policy Modeling, Elsevier, vol. 21(5), pages 535-557, September.
  2. Blangiewicz, Maria & Charemza, Wojciech W., 2001. "East European economic reform: Some simulations on a structural VAR model," Journal of Policy Modeling, Elsevier, vol. 23(2), pages 147-160, February.
  3. Kornai, János, 2000. "Tíz évvel a Röpirat angol kiadásának megjelenése után. A szerző önértékelése
    [Ten years after the English edition of `The Road to a Free Economy'. The author's self-evaluation]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 647-661.
  4. Janos Kornai, 2001. "Ten Years after “The Road to a Free Economy”: Self-estimate of the Author," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 42-60.
  5. Gilli, Mario & Li, Yuan, 2012. "Citizenry Accountability in Autocracies: The Political Economy of Good Governance in China," Working Paper Series 2012-23, China Economic Research Center, Stockholm School of Economics.
  6. Heinrich, Ralph P., 1993. "The merits of insider privatization: What Russia can learn from Eastern Central Europe," Kiel Discussion Papers 201, Kiel Institute for the World Economy (IfW).
  7. Burawoy, Michael, 1996. "The state and economic involution: Russia through a China lens," World Development, Elsevier, vol. 24(6), pages 1105-1117, June.
  8. John Marangos, 2011. "Social Change versus Transition: The Political Economy of Institutions and Transitional Economies," Forum for Social Economics, Springer, vol. 40(1), pages 119-137, April.
  9. Raiser, Martin, 1994. "Ein tschechisches Wunder? Zur Rolle politikinduzierter Anreizstrukturen im Transformationsprozeß," Kiel Discussion Papers 233, Kiel Institute for the World Economy (IfW).
  10. Raiser, Martin, 1993. "Governing the transition to a market economy," Kiel Working Papers 592, Kiel Institute for the World Economy.
  11. Tian, Xiaowen, 2001. "Privatization and economic performance: evidence from Chinese provinces," Economic Systems, Elsevier, vol. 25(1), pages 65-77, March.
  12. Falk, Martin & Raiser, Martin & Brauer, Holger, 1996. "Making sense of the J-curve: Capital utilisation, output, and total factor productivity in Polish industry 1990 - 1993," Kiel Working Papers 723, Kiel Institute for the World Economy.
  13. Marcello Signorelli & Enrico Marelli, 2007. "Institutional change, regional features and aggregate performance in eight EU’s transition countries," Quaderni del Dipartimento di Economia, Finanza e Statistica 37/2007, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
  14. Bohle, Dorothee, 1999. "Der Pfad in die Abhängigkeit? Eine kritische Bewertung institutionalistischer Beiträge in der Transformationsdebatte," Discussion Papers, Research Unit: Organization and Employment FS I 99-103, Social Science Research Center Berlin (WZB).
  15. M. March-Poquet, 2000. "What Type of Transition is Cuba Undergoing?," Post-Communist Economies, Taylor & Francis Journals, vol. 12(1), pages 91-117.

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