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Perestroika And Socialist Privatization: What Is To Be Done? And How?

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Author Info

  • Edgar L. Feige

    (University of Wisconsin-Madison)

Abstract

This 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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Bibliographic Info

Paper provided by EconWPA in its series Development and Comp Systems with number 0312002.

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Length: 53 pages
Date of creation: 08 Dec 2003
Date of revision:
Handle: RePEc:wpa:wuwpdc:0312002

Note: Type of Document - pdf; prepared on WinXP; pages: 53
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Web page: http://128.118.178.162

Related research

Keywords: transition; Russia; stabilization; liberalization; privatization; property rights; social safety net;

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