'The Oxford Handbook of Structural Transformation' addresses the economics of structural transformation around the world. It deals with major themes, which include history and context, critical issues and concepts, methodological foundations, main theoretical approaches, policy issues, some...

Many transition policies, based on neoclassical economics, failed in Eastern Europe, the former Soviet Union, and China. This paper argues that the failure is due to the viability assumption in neoclassical economics. Neoclassical economics implicitly assumes that a firm is expected to earn a...