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Transformation in a socio-economic perspective

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  • Jiří Večerník

Abstract

Transformation cannot be completed unless markets hit not only formal, but also substantive aspect of economy. It involves economic institutions (first of all private ownership), economic behavior (based on confidence and other traditional values) and economic actors (especially the middle classes). The weak ties of social relationships have their strength under transformation, be it the former nomenklatura, continuing local brotherhoods end new clans. In the surroundings of unbalanced chances and weak institution, market appears in a mutilate form and privatisation process sometimes even supports monopolies. Economic problems in the Czech Republic of 1996-1997 indicate incompleteness of the transformation in the substantive sense. Despite all barriers, the middle classes as the key collective actor appear again on the economic and political scene.

Suggested Citation

  • Jiří Večerník, 1998. "Transformation in a socio-economic perspective," Prague Economic Papers, Prague University of Economics and Business, vol. 1998(3).
    • Handle: RePEc:prg:jnlpep:v:1998:y:1998:i:3:id:155
    DOI: 10.18267/j.pep.155
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