IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Polemika se svetozarem pejovichem o transformační, tedy neklasické privatizaci
[A polemic with svetozar pejovich on the transformational, i.e. non-classical privatization]

Listed author(s):
  • Václav Klaus
  • Dušan Tříska
Registered author(s):

    The authors critically discuss some of the theses of Svetozar Pejovich from his article On the Privatization of "Stolen Goods" in Central and Eastern Europe. The Independent Review, v. X, N. 2, Fall 2005, s. 209-229. ISSN 1086- 653. Their polemic can be summarized as follows: (1) According to Pejovich, the "carriers of the institutional restructuring" relied solely on the neo-classical ("text-book") economics. The authors reply that at least in their country also the New Institutional School, Austrian Economics and Public Choice were well known and broadly applied. (2) Pejovich seems to confuse privatization of an individual enterprise with the privatization of the society as a whole, i.e. the actual task of the governments. While the former may seek for an optimal owner, the latter is assigned "only" to launch the initial market for ownership rights. (3) Pejovich seems to believe that governments could have controlled the exact sequencing of their transformation steps and measures. By contrast, the authors stress the extreme spontaneity of the real-life developments and absurdity of the attempts to postpone, e.g., privatization - freeze it till some optimal legal frame emerges and-or is installed. (4) As to the Pejovich's de-communisation, the authors speculate that he may have generalized the Yugoslav experience, where the communists could have shared their Party's titoistic ideology. Contrariwise, the membership of a typical Czech communist was never based on the ideology and thus represented nothing about his/her post-communist concepts. (5) As to the Pejovich's own proposal "how to do it", the authors stress, again, its unrealistic nature, as what the proposal requires in fact is nothing less than to (a) accurately valuate thousands of state-owned enterprises, (b) rationally restructure them physically and financially, (c) offer and sell them at a correct price and (d) fairly divide the proceeds among its citizens. To the authors of this polemic, a task of this magnitude is beyond capacity of anybody, not to mention governments, least of all the post-communist ones.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: free of charge

    File URL:
    Download Restriction: free of charge

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by University of Economics, Prague in its journal Politická ekonomie.

    Volume (Year): 2006 (2006)
    Issue (Month): 3 ()

    in new window

    Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:3:id:559
    Contact details of provider: Postal:
    nam. W. Churchilla 4, 130 67 Praha 3

    Phone: (02) 24 09 51 11
    Fax: (02) 24 22 06 57
    Web page:

    More information through EDIRC

    Order Information: Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
    Web: Email:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2006:y:2006:i:3:id:559. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Frantisek Sokolovsky)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.