- Series Information
- The Oxford Handbook of Austrian Economics
- List of Figures and Tables
- Introduction: Austrian Economics as a Progressive Research Program in the Social Sciences
- Austrian Methodology: A Review and Synthesis
- The Knowledge Problem
- Market Theory and the Price System
- Austrians versus Market Socialists
- Spontaneous Order
- The Capital-Using Economy
- Capital-Based Macroeconomics: Austrians, Keynes, and Keynesians
- Austrian Business Cycle Theory: A Modern Appraisal
- Free Banking
- Social Economy as an Extension of the Austrian Research Program
- Organizations and Markets
- The Evolution of Property Rights Systems
- On the Origins of Stock Markets
- The Rule of Experts
- The Problem of Rationality: Austrian Economics between Classical Behaviorism and Behavioral Economics
- Dynamics of Interventionism
- Ordoliberalism and the Austrian School
- The Tax State as Source of Perpetual Crisis
- Constitutional Political Economy and Austrian Economics
- Public Choice and Austrian Economics
- The Market Process Theory Perspective on Capitalism: Normative Facets and Implications
- On the Economy-Wide Implications of Kirznerian Alertness
- Contemporary Austrian Economics and the New Economic Sociology
- The Austrian Theory of Finance: Is It a Unique Contribution to the Field?
- Austrian Economics and the Evolutionary Paradigm
- Complexity and Austrian Economics
- <i>The Sensory Order</i>, Neuroeconomics, and Austrian Economics
- What Have We Learned from the Collapse of Communism?
- The Political Economy of Foreign Intervention
- From Subsistence to Advanced Material Production: Austrian Development Economics
- On Your Mark, Get Set, Develop!: Leadership and Economic Development
- The Financial Crisis in the United States
- The Financial Crisis in the United Kingdom: Uncertainty, Calculation, and Error
Abstract and Keywords
Following the collapse of communism in central and eastern Europe (1989) and the Soviet Union (1991), the field of comparative political economy has undergone multiple stocktakings and revisions. In the former communist countries, Marxist economics was abandoned in favor of neoclassical economics, which dominated the profession in the West. But was neoclassical theory equipped to suggest adequate institutional arrangements in support of the transformations to capitalism in the former centrally planned economies of central and eastern Europe (C and EE) and the former Soviet Union (FSU)? What have economists working in the field of comparative political economy learned from the collapse of communism and the experience of transition so far? This chapter surveys the thoughts of leading transition scholars and assesses the new lessons learned in comparative transitional political economy.
Visiting Assistant Professor of Economics, Denison University
Peter Boettke is University Professor of Economics and Philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, Vice President for Research, and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.
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