Comparison of Communist and Capitalist Economies. Is "Shock Therapy" the Best Option during Transition?

Released on by Sanel Muranovic
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  • Comparison of Communist and Capitalist Economies. Is "Shock Therapy" the Best Option during Transition? Book Detail

  • Author : Sanel Muranovic
  • Release Date : 2016-11-07
  • Publisher : GRIN Verlag
  • Genre : Business & Economics
  • Pages : 15
  • ISBN 13 : 3668336164
  • File Size : 33,33 MB
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Comparison of Communist and Capitalist Economies. Is "Shock Therapy" the Best Option during Transition? by Sanel Muranovic PDF Summary

Book Description: Seminar paper from the year 2016 in the subject Economics - Other, grade: 2,00, University of Applied Sciences Vorarlberg, language: English, abstract: This paper compares and contrasts communist party and economic planning in a socialist system with the prices and the market in a capitalist economy. It discusses the successes, failures, effectiveness and flaws of each system in terms of economic and social aspects. Is shock therapy the right approach for a stable long term transition?

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Highway and Byways

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Hungarian economist Janos Kornai first used the metaphor of a single path to postsocialist transition in his earlier book, The Road to a Free Economy. The new m