The world economy is going through a period of radical change. This is self-evident in post-Socialist Europe with the disappearance of centrally planned economies. However, policies of liberalization and privatization are also sweeping the less developed world. While traditional theory predicts beneficial results from these changes, the practical outcome is less certain. Whatever the overall effect, it is clear that some citizens will pay a higher price than others.

The world economy is going through a period of radical change. This is self-evident in post-Socialist Europe with the disappearance of centrally planned economies. However, policies of liberalization and privatization are also sweeping the less developed world. While traditional theory predicts beneficial results from these changes, the practical outcome is less certain. Whatever the overall effect, it is clear that some citizens will pay a higher price than others.