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Books > Social sciences > Politics & government > Political ideologies > Marxism & Communism
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Macroeconomic Instability in Post-Communist Countries (Hardcover)
Loot Price: R6,093
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Macroeconomic Instability in Post-Communist Countries (Hardcover)
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The destruction or collapse of a social system is bound to be
cataclysmic, and the collapse of the communist system which has
played itself out at across twenty-eight countries is no exception.
The political, social and economic relations which governed these
societies are all being simultaneously changed in a fundamental
way. In such a context the presence of macroeconomic instability is
hardly surprising. Yet, it is the job of economists to try to
identify the specific causes of economic phenomena, even when they
are caught up in the whirlwind of history. This book, by a
participant in the events, examines the causes of very high
inflation and large fall in statistically measured output in the
post-Communist countries of Central and Eastern Europe and the
former Soviet Union. It focuses on the fundamental nature of the
shift from supply constrained economies (in which there is no
unemployment) to ones which are constrained by demand; on the
reconstruction of monetary and credit systems; and on the central
role of macroeconomic stabilization and generalised liberalisation
in creating the basis for private sector growth. Many of the
chapters have grown out of policy debates in which the author
participated.
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