Author Description

This book offers a rigorous and comprehensive analysis of the workings of a planned economy versus that of a market economy. The authors expound the principles of market economics in the context of the main problems facing economies in transition from a centrally planned to a market structure: privatization, the role of money, environmental policy, and international trade. Real-life experiences, rather than formal equations, are employed to emphasize vital points, making the book accessible to the reader without formal training in economics. Though the focus is on Central and Eastern Europe, the discussion is relevant to the privatization process in market economies and serves as a useful introduction to general economic principles.