Introduction [to From Socialism to Market strongEconomystrong].pdfVIP

Upjohn Pr ss Book Chapt rs Upjohn R s arch home pag 1992 Introduction [to From Socialism to Market Economy] William S. Kern Western Michig an University Citation K rn, William S. 1992. Introduction. In From Socialism to Mark t Economy: The Transition Probl m, William S. K rn, d. Kalamazoo, MI: W.E. Upjohn Institute for Employm nt R s arch, pp. 1–8. http://r s /up_bookchapt rs/601 This title is brought to you by the Upjohn Institut . For more information, pl ase contact ir@. Introduction William S. Kern Western Michigan University With stunning speed the socialist experiments of Eastern Europe and the Soviet Union have now apparently come to an end. Despite half a century or more of efforts directed by Communist leaders toward building socialism, the citizens of these countries now find that the structure for which they had endured great sacrifices will not survive. The citizens of these nations are now faced with the prospect of con structing a new economic structure based upon a foundation of markets and private ownership. The problems produced by the transformation of these economies was the theme of a lecture series held at Western Michigan University during the 1990-91 school year. The lectures presented form the basis of this volume. The volume begins with Paul Marers paper, which examines the major obstacles in the path of countries seeking to convert their econo mies to market systems. It serves as a natural starting point, as it pro vides an excellent overview of the major issues to be faced by the countries in the process of transition. Marer points out that the countries of Eastern Europe have several models to emulate in creating their own market economies. These options include a soc