Is There an Austrian Approach to Transition?
Abstract
This paper discusses the meaning of the term "transition" and its implications for policy making. It is suggested that an Austrian view would enhance a better understanding of what has been happening in Central and Eastern Europe in the past decade. Within this framework, the analysis should be based on three criteria: acquisition of knowledge, individual responsibility, free entry. It concludes that future transition analysis should devote more attention to the way a number of subjectivistic features drive institutional change, as well as to the features of the new opportunity sets made available to individuals. Copyright 2002 by Kluwer Academic PublishersDownload Info
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Bibliographic Info
Article provided by Springer in its journal Review of Austrian Economics.
Volume (Year): 15 (2002)
Issue (Month): 1 (January)
Pages: 61-74
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Web page: http://www.springerlink.com/link.asp?id=100335
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Alexander Libman, 2006. "Government-Business Relations and Catching Up Reforms in the CIS," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 3(2), pages 263-288, December.
- Jürgen Wandel, 2011. "Business groups and competition in post-Soviet transition economies: The case of Russian “agroholdings”," The Review of Austrian Economics, Springer, vol. 24(4), pages 403-450, December.
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