Perestroika And Socialist Privatization: What Is To Be Done? And How?
AbstractThis paper examines the question of whether a communist nation, characterized by state ownership of the means of production and a centrally planned command system of allocation can be transformed into an efficient market oriented economy without fully compromising the socialist ideals of an egalitarian society that insures a high degree of economic security for its citizens. In short, is it possible, for the first time in history, to create a capitalistic society on the foundation of an egalitarian distribution of income and wealth? I propose a sequential set of stabilization, privatization and liberalization policies designed to provide the necessary, albeit not sufficient conditions for a transition to a market economy that minimizes the costs of adjustment by providing a social safety net in the form of an initial equalitarian distribution of a considerable portion of the state’s current ownership of the means of production. To be published in Comparative Economic Studies Vol. XXXII, No.3 Fall 1990
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Length: 53 pages
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transition; Russia; stabilization; liberalization; privatization; property rights; social safety net;
Find related papers by JEL classification:
- P1 - Economic Systems - - Capitalist Systems
- P2 - Economic Systems - - Socialist Systems and Transition Economies
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O2 - Economic Development, Technological Change, and Growth - - Development Planning and Policy
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- H1 - Public Economics - - Structure and Scope of Government
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