Democracy and the Market: Political and Economic Reforms in Eastern Europe and Latin America
The quest for freedom from hunger and repression has triggered in recent years a worldwide movement toward political democracy and economic rationality. Never have so many people experimented with democratic institutions. At the same time, traditional strategies of economic development have collapsed in Eastern Europe and Latin America and entire economic systems are being transformed on both continents. What should we expect in the countries that venture on the paths to democracy and markets? Will these transitions result in democracies or in new dictatorships? What economic system, new or old, will emerge? This major book analyzes recent events in Eastern Europe and Latin America, focusing on transitions to democracy and market-oriented economic reforms. The author underscores the interdependence of political and economic transformations and draws on extensive local data as part of his analysis. A distinctive feature of the book is that it employs models derived from politics, economics, and game theory. This book will be of particular interest to scholars and graduate students in political science and sociology.
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How are outcomes enforced under democracy?
Transitions to democracy
Why do outcomes appear uncertain?
Transitions to democracy
Capitalism and socialism
What can be reformed?
Could we feed everyone?
The political dynamics of economic reform
Transitional costs of reforms
Political consequences of economic reforms
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Page 7 - Europe between 1848 and 1891 and that had animated social movements all over the world since then — failed, in the East and in the West. True, the values of political democracy and of social justice continue to guide social democrats such as myself, but social democracy is a program to mitigate the effects of private ownership and market allocation, not an alternative project of society.