Transitions from socialism to capitalism are complex, both in theory and practice. Russian Economic Reform enables the reader to come to a much better understanding of these momentous changes, by providing a clear and accessible account of the major features of transition. It argues that...

Transitions from socialism to capitalism are complex, both in theory and practice. Russian Economic Reform enables the reader to come to a much better understanding of these momentous changes, by providing a clear and accessible account of the major features of transition. It argues that...

Adam Smith defeats Karl Marx: this shorthand summary of the collapse of socialism in Eastern Europe and the former Soviet Union was not uncommon during the early years of reform. But would Adam Smith approve of the nature of the economic transition in Russia? This essay, drawing intensively...