Even after a 15-year-long transition experience the question can be asked whether the transition is heading the wrong way. This question originates from practice and personal experience of the author of this paper. The background of this question consists of four dilemmas. (1) Is transition a constructivist project or a project based on evolution? (2) Is transition a problem to be solved by several generations? (3) What were the expectations from transition? (4) Which social groups needed transition? Do transition countries want to develop a capitalistic system or do they just want to introduce capitalism constructively? What has been achieved till these days in most transition countries is a state of so-called political capitalism. It means a system with strong relations between politics and business. Does political capitalism per se have to turn into entrepreneurial capitalism? No! The current transition paradigm leads us into that trap of belief! Copyright Springer-Verlag/Wien 2004
