Seven things I learned about transition from communism

Andrei Shleifer 05 February 2012

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Recently, I was asked by the organisers of the IIASA conference1 to mark the 20th anniversary of the beginning of economic reforms in Eastern Europe and former Soviet Union to comment on the lessons of transition. The assignment presumably refers to the things that I learned – as an economist – that are different from what I believed initially. Such a recollection free from hindsight bias is challenging, but I tried. This list might be useful to future reformers, although there are not so many communist countries left.

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Topics:  Development Global economy Politics and economics Welfare state and social Europe

Tags:  Russia, communism, Transition economies, capitalism