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The New Russia - Transition Gone Awry (Paperback)
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The New Russia - Transition Gone Awry (Paperback)
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"This admirable work has contributions from an impressive group of
specialists who cover the topic comprehensively. Balanced,
reasonable transitions in various economic sectors are urged
persuasively and in some cases even eloquently. The book has the
potential for making a significant impact."
--Ralph T. Fisher, Jr.,
University of Illinois at Urbana-Champaign
This book delivers an unpopular message: the West has played a
pivotal role in the Russian economic disaster of the 1990s. Western
advisors, including the International Monetary Fund and the U.S.
Treasury, applied a narrow conception of economics that pushed
Russia, after more than seventy years of communism, toward another
failed utopia.
The twenty-six contributions to this book are divided into three
parts: theory, evidence, and policy. Part One directly challenges
orthodox economic theory for obscuring the necessary role of
government in creating and sustaining a market system and features
essays by three Nobel laureates in economics--Kenneth J. Arrow,
Lawrence R. Klein, and James Tobin. Part Two describes the
dimensions of the economic crisis in Russia and presents a Russian
perspective on the failure of shock therapy. Part Three presents
policy recommendations, with special attention given to improving
the integrity and administrative competence of the Russian
government.
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