One of the most remarkable aspects of the transition process in the
former Soviet Union has been the extent to which the economy has
effectively become demonetized in recent years. At the time of
Russia's financial crisis of 1998 it was estimated that up to 70%
of industrial output was being exchanged for barter. This book
provides an accessible and authoritative analysis of barter in the
former Soviet Union, addressing such questions as: * What has
brought about this demonetization and why have we not seen the same
phenomenon on a widespread scale in central and eastern Europe? *
Does the nature of demonetization cast light on what underpins
monetary transactions in industrial societies? * What are the
consequences for output and growth? * Should the state intervene
and how? * Does the network character of many non-monetary
transactions have implications for the role and value of social
networks in complex modern societies?
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