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Foundations, Results and Perspectives of Transition: A Case of Serbia

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  • Bukvic, Rajko

Abstract

Paper considers the foundations, results and perspectives of transition process, with special focus on Serbia. The foundations were the postulats of neoclassical economics, the mainstream in recent economic thought. They determined the goal, the methodology, and the ideological basis of this process, and resulted especially in Washington Consensus. The results of the reforms, based on Consensus, showed, with some exceptions, that these countries realized deep and long-term economic fall, followed by similar processes in other spheras. Contrary to ordinary opinions that transition crisis show as result of inconsistency in reforms taking, this is normaly its result. As an analogue is the Morgenthau’s plan for West Germany observed, that has promoted Germany to industrial disarmament, and that would lead to its poverty and its transformation into raw material basis for the developed economies, and to impossibility of survival of the existing number of population. Fortunately for the Germany, Morgenthau’s plan was abandoned and Marshall’s plan was introduced. It lead to industrial renewal of Germany. For the transition countries it is also necessary, considering the practice and basic principles of the Other Canon, which have they origins as far as from the economic policy of Henry VII, to access re-industrialization in the same way, which is the necessity for renewall of economies, and for overcoming the long-term crisis.

Suggested Citation

  • Bukvic, Rajko, 2010. "Foundations, Results and Perspectives of Transition: A Case of Serbia," Ekonomika, Journal for Economic Theory and Practice and Social Issues, Society of Economists Ekonomika, Nis, Serbia, vol. 56(4), December.
  • Handle: RePEc:ags:sereko:289227
    DOI: 10.22004/ag.econ.289227
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    References listed on IDEAS

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    Cited by:

    1. Bukvić, Rajko, 2017. "Други Канон И Маршалов План Као Модел Економске Политике [Other Canon and Marshall’s Plan as a Model of Economic Policy]," MPRA Paper 94648, University Library of Munich, Germany.
    2. Bukvić, Rajko, 2014. "Смещение Неоклассической Экономической Парадигмы ‒ Предпосылка Повышения Качества Макроэкономического Образования [Removal of the neoclassical economic paradigm – condition for the improving of mac," MPRA Paper 81295, University Library of Munich, Germany, revised 2014.
    3. Bukvić, Rajko & Pavlović, Radica, 2014. "Неокласична Економска Теорија И Проблеми Економског Развоја [Neoclassical economic theory and the problems of economic development]," MPRA Paper 70092, University Library of Munich, Germany, revised 08 Apr 2014.

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    More about this item

    Keywords

    Community/Rural/Urban Development;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General

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