How should the transition to the market be made? What are the principal difficulties in this transition? How long will it take to surmount them? These questions worry every economist today. It would seem that everything has already been said, that there is not a single idea in the arsenal of...

The transition of Russia from centralized planning to a market economy has been difficult and protracted in nature. We are seeing alternating "ebbs" and "flows" of the energy of reform, where at any time during the latest deterioration the question arises of whether the point of no return has...