The Economics of Transition and the Transition of Economics
The economics of transition is the study of the economic transformation from one economic system--central planning--to another, a market system. This paper discusses a number of issues in reform strategy and experiences with reform of Eastern Europe. It is argued that the economics of transition has a wider significance that transcends specific issues of reform strategy and individual country experience. That significance lies in two areas--as a 'living' test of the neoclassical model which underpins the reform strategy and as an ultimate challenge to the economics discipline. Copyright 1995 by The Economic Society of Australia.
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Volume (Year): 71 (1995)
Issue (Month): 215 (December)
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