Under free-market shock therapy, many of the economies of the former socialist countries of Eastern Europe have declined. Why has there been so much stagnation, inflation, and de-industrialization, and what can be done to turn this risky state of affairs around? The first critique of the free-market economic policies that have shocked Eastern Europe, this book addresses these questions in revealing detail.

Alice H. Amsden is the Ellen Swallow Richards Professor of Political Economy at the Massachusetts Institute of Technology.

Jacek Kochanowicz is Associate Professor of Economic History at the University of Warsaw.

Lance Taylor is Arnhold Professor of International Cooperation and Development at the New School University.

Read More by Lance Taylor:

• Reconstructing Macroeconomics: Structuralist Proposals and Critiques of the Mainstream