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The adjustment problems of public finance in East-Central European countries are often misunderstood and misinterpreted by western scholars. This book contributes to the bridging of the gap between what is being thought by external observers and what the actual public finance reality is, as described by competent local scholars. Popular political economy research has remained biased towards advanced countries and has neglected developing and/or transition economies. Although there have been publications on CEE countries' public finances, these seem to be reluctant to apply the conceptual and...

An analysis of the transition from socialism to capitalism from the perspective of the scholar whose "Economics of Shortage' (1980) made him the most influential critic of the political economy from within the Soviet block