How Capitalism Was Built

Anders Aslund is a leading specialist on postcommunist economic transformation with more than 35 years of experience in the field. The author of eleven books, he has also worked as an economic advisor to the Russian, Ukrainian and Kyrgyz governments. Dr Aslund joined the Peterson Institute for International Economics in Washington DC as a senior fellow in 2006. Before that he was the Director of the Russian and Eurasian Program at the Carnegie Endowment for International Peace. He teaches at Georgetown University. He earned his PhD from Oxford University. He was born in Sweden and served as a Swedish diplomat.

'How Capitalism Was Built is an impressive achievement. It deals with all the important aspects of one of the most important transformations in modern history. It is based on a massive empirical literature and - what's rare - on an author's firsthand knowledge of the transition countries. It should be read by everybody interested in modern history, politics, and economics.' Leszek Balcerowicz, College of Europe and Former Chairman, National Bank of Poland

• Introduction: a world transformed; 1. Communism and its demise; 2. Radical reform versus gradualism; 3. Output: from slump to recovery and boom; 4. Liberalization: the creation of a market economy; 5. From hyperinflation to financial stability; 6. Privatization: the establishment of private property rights; 7. The social system; 8. The politics of transition; 9. From crime toward law; 10. The importance of the European Union; 11. The global financial crisis, 2007–12; Conclusions: a world transformed.