The long road from capitalism to capitalism the Eastern European economies have made has been paved with many economic problems, but the transition from a command economy into a market economy is likely to become a bumpy ride as well. Apart from the major real economic reforms that have to take...

Traditionally, there have been two strands in the analysis of poverty, inequality and development – a micro strand that focuses on individual behavior, welfare economics and the measurement of inequality and poverty; and a macro strand that analyzes economy-wide policies and the role of...