Centrally planned and administered economy and steep ascent strategy a complete failure -- Development economics-based strategy in less developed countries an incomplete failure -- A shift toward better understood (and appreciated) classical economic prescriptions an incomplete success --...

Among the former CMEA countries, some are moving faster and more radically toward the market system than others. Prof. Winiecki shows that the former will in future be in a better position to compete on world markets than those countries whose transition to the market system is incomplete or...