Edward Elgar Publishing THE CAPITALIST REVOLUTION IN EASTERN EUROPE: A Contribution to the Economic Theory of Systemic Change (Studies of Communism in Transition series)

In The Capitalist Revolution in Eastern Europe, László Csaba offers an applied economics interpretation of the modernization attempts which followed the collapse of the Soviet empire and of the state socialist experiment. This important book presents a comprehensive overview of empirical and theoretical developments in order to analyse and interpret what common factors or trends are discernible in the transformation process. From 1989 to 1994 a loss of employment and production was recorded in Eastern Europe which exceeded that of the great depression of the 1930s. This book questions why conventional economic doctrines seem to have failed in some countries but have been more successful in others. What – if anything – went wrong with an experiment which involved some of the most prominent economists in the world? Why did shock therapy fail in Russia and why is gradualism reaching its outer most limits in Hungary? In attempting to build a bridge between abstract economic theory and the empirical material available in Eastern Europe, the author adopts a broad framework of analysis making use of data and theories drawn from sociology, history and political science. In developing an analytical framework, and through its application by a single author, this book presents a unique, authoritative perspective on the transformation of Eastern Europe. Students, academic researchers, journalists and policymakers will welcome this decisive assessment of the empirical and theoretical insights resulting from the transformation of Eastern Europe. Review ‘This book by László Csaba is an important summary of the comparative economic literature stressing economic policy aspects. Beyond that it also has a theoretical meaning too . . . Its accurate style is not immersed in professional jargon, and this makes it suitable for a wider audience.’ -- A. Török, Acta Oeconomica ‘. . . this book will be rewarding reading for those who are not satisfied with the conventional wisdom and are looking for new answers to the formidable puzzles of transformation.’ -- Martin Schrenk, Newsletter of the World Bank ‘The main argument is original and important and the attention to detail makes it worthwhile reading.’ -- Wim Swaan, Economics of Transition ‘The book is well edited, has a good bibliography and even an index of subjects and authors.’ -- Uwe Siegmund, Review of World Economics ‘Assessing very high the fundamental work of Csaba as a whole, we would like to note in conclusion the importance of both the logic of the book and the psychological effect on the specialists by the genuine theory, expounded in the book. Despite our politicized pros and cons, we have forgotten about the feast of the scientific search for the truth. Lásló Csabo’s book brings this feast back to us.’ -- Russian Academy of Sciences, Social Sciences About the Author László Csaba, Department of International Relations and European Studies, Central European University, Hungary