From Communism to Capitalism in Eastern Europe

Assesses the achievements and difficulties in the transition from communism to capitalism in Eastern Europe.

The devolution of the Soviet Union and the abandonment of command economies throughout Eastern Europe was one of the most profound developments in the last half of the twentieth century. A dozen years after the ‘transition’ began the results are still both tentative and mixed. This paper assesses the process with a broad, holistic perspective emphasizing both economic and non-economic factors.