Unformatted text preview: This has been a major problem for the former Soviet Union’s transition from a form of command economy (communism) to a more market oriented economic system (capitalism). There were very little if any private property rights in the former Soviet Union. What we are witnessing is a difficult struggle as the former Soviet Union wrestles to define private property rights and develop an institution to recognize and enforce those property rights. Until the former Soviet Union can accomplish this, the transition to a more market oriented (capitalistic) economy is going to be a tough, bumpy road....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10