Behind the Soviet Economic Crisis

Can perestroika—the reconstruction of the Soviet economy—work? The shape of the world economy, in particular the relations of the advanced industrial societies to the markets of tomorrow, depends upon the answer to that question. I distinguish here between Eastern Europe—Poland, Czechoslovakia, Hungary, and to a lesser extent Romania and Bulgaria— and the Soviet Union. The three larger economies of Eastern Europe are engaged in a drastic turnabout of their societies. All three ...