The 'Washington consensus' and 'shock therapy' approach to transition economies ignored the Keynesian lessons from the Great Depression: that market instability is a possibility and there may be an active role of government in managing stability and growth. The severe output decline in East...

Countries are often slow to adjust their economic structures to new necessities although this reform reluctance is costly in terms of growth and employment. This paper analyses the relevant factors that block or foster economic reforms. Theoretical considerations show that there are at least...

In a constantly changing economic environment a country's ability to undertake institutional reforms is crucial to maintain economic growth and to promote the welfare of its citizens. A wide range of determinants for institutional reforms have been identified. However, the impact of trust on...

During the '90s most Latin American countries were submitted to neoliberal structural reform policies. Neoliberal policies imposed market supremacy, reduced the State's role in the economy and deregulated the markets. This paper aims at describing how these policies affected the most important...

1. Introduction -- 2. Economic and political developments -- 3. Liberalism -- 4. Karl Polanyi‘s critique of market liberalism -- 5. Keynes and Hayek - both liberals but economic adversaries -- 6. Friedman and Samuelson at odds on Keynes -- 7. Mariana Mazzucato attacks the philosophy of...

Front Cover -- Book Title -- Copyright -- Contents -- Tables, Figures, and Maps -- Preface -- Acknowledgments -- Introduction -- Reform from Above -- Stolypin: the Man behind the Reforms -- This Book's Goals -- Chapter 1 - Creating Private Property, Dispersing Power -- The Gist of the Reforms --...