It is basically argued that, as the world economy progresses and the means of transportation and communication become increasingly available, the interdependence among means and ways of life also becomes inevitable and human relations tighten accordingly. However, though every individual tends...

Recent proposals for swift privatization of all social property in Eastern Europe overlook the unique history and culture of that region. The neoclassical model of development treats private property and free markets as virtual guarantees of prosperity, stability, and political democracy....

During the decade of the 1980s, the design and implementation of economic reforms had divided the Chinese leadership into two factions: conservative proponents of moderation and “circumscribed” economic reform, and liberal proponents of comprehensive and rapid economic and social reform....

Marx expected the socialist revolution to take place in a highly industrialized society. In his theory the creation of the industrial society was the “historical task” of Capitalism. The “historical task” of Socialism was the equitable distribution of the fruits of industrialization....

A Soviet type of “shock therapy” is not likely to take place in China since a gradual economic reform has already improved the overall economic conditions. Argues that, for further economic development, however, the Chinese communists must recognize two basic facts: (1) Chinese communism has...

In the spring of 1990 the whole world was watching what was happening in Nicaragua. Free elections brought to a communist country a change of the political regime without violence. Dona Violeta Barrios de Chamorro was elected President and formed a new democratic government. Old and new...

Corruption is a serious problem for economies in transition. It causes retardation in the development of institutions conducive to economic growth. In this sense, it introduces inertia in transition dynamics. Generally, corruption is a deep‐rooted social and economic problem in developing...

In this paper, we analyze power in five modes of social organization, as can be found in Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations. Specifically, we analyze Smith’s presentations of pre‐capital accumulation and private appropriation of land; feudalism; a...