Aware of the limitations of central economic planning, the Chinese leaders have issued instructions to complement the economic order, at least on an experimental scale, by elements of the market economy. The author attended the deliberations on the new Ten-Year Plan last autumn, and here he...

Various market-type reforms have been introduced into the economies of Eastern Europe in recent years. These have often been warmly applauded in the West, but their success so far has been at best marginal. Without radical changes in the fundamentals of the Soviet-type economic system such...