Alice Amsden was Barton L. Weller Professor of Political Economy at the Massachusetts Institute of Technology. Jacek Kochanowicz was Professor of Economic History at the University of Warsaw and Visiting Professor at Central European University, Budapest. Lance Taylor is Arnhold Professor of International Cooperation and Development at the New School for Social Research.

A highly readable and extremely convincing account of why the strategies adopted by east European governments have failed. [The authors] argue that these governments adopted a free-market, neo-classical model of capitalist development, totally inappropriate to their condition and history, and one which did not reflect the way advanced capitalist countries had themselves developed.

• Preface From Pseudo-Socialism to Pseudo-Capitalism Transition Macroeconomics The Black Box of State-Owned Enterprises Overloading the Market Mechanism Pseudo-Privatization and the World Bank Enterprise and the State Challenges Facing the State Reconstructing the State Economy, Society, and the State Notes References Index

Alice Amsden was Barton L. Weller Professor of Political Economy at the Massachusetts Institute of Technology. Jacek Kochanowicz was Professor of Economic History at the University of Warsaw and Visiting Professor at Central European University, Budapest. Lance Taylor is Arnhold Professor of International Cooperation and Development at the New School for Social Research.

A highly readable and extremely convincing account of why the strategies adopted by east European governments have failed. [The authors] argue that these governments adopted a free-market, neo-classical model of capitalist development, totally inappropriate to their condition and history, and one which did not reflect the way advanced capitalist countries had themselves developed.

• Preface From Pseudo-Socialism to Pseudo-Capitalism Transition Macroeconomics The Black Box of State-Owned Enterprises Overloading the Market Mechanism Pseudo-Privatization and the World Bank Enterprise and the State Challenges Facing the State Reconstructing the State Economy, Society, and the State Notes References Index

Alice Amsden was Barton L. Weller Professor of Political Economy at the Massachusetts Institute of Technology. Jacek Kochanowicz was Professor of Economic History at the University of Warsaw and Visiting Professor at Central European University, Budapest. Lance Taylor is Arnhold Professor of International Cooperation and Development at the New School for Social Research.

A highly readable and extremely convincing account of why the strategies adopted by east European governments have failed. [The authors] argue that these governments adopted a free-market, neo-classical model of capitalist development, totally inappropriate to their condition and history, and one which did not reflect the way advanced capitalist countries had themselves developed.

• Preface From Pseudo-Socialism to Pseudo-Capitalism Transition Macroeconomics The Black Box of State-Owned Enterprises Overloading the Market Mechanism Pseudo-Privatization and the World Bank Enterprise and the State Challenges Facing the State Reconstructing the State Economy, Society, and the State Notes References Index