040209 - 04/02/09 PLCP 321 Transformation of power o Mix of...

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04/02/09 PLCP 321 Transformation of power o Mix of interests between old-guard communists and nationalists o Spontaneous privatization helped explain the speed and peacefulness of the collapse o At the end of 1980s & 90s, the predominate school of economic thought was supply-side economics, new classical economics Problems of translation o Tension between an existing, mature, functioning system and the creation of one In the West market economy, democracy, etc. were well- established The state played an important role in each of these (In US almost 1/3 of GDP is spent my gov’t) Only true free market experiment was Chile under Pinochet Existence of the market economy is taken for granted- we don’t really know how to build a market economy. People in the Soviet Union were more interested in destroying the old system, which they did well But no one really thought about how to build a new system o Democracy v. democratization, market economy v. marketization
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040209 - 04/02/09 PLCP 321 Transformation of power o Mix of...

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