Measuring National Income in the Centrally Planned Economies: Why the West Underestimated the Transition to Capitalism

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In 1991 "Communism" collapsed. The cold war was over and the West had won. Whole cities, Moscow, St Petersburg, Warsaw, Beijing, Budapest and Bucharest, whole countries indeed, were privatised for nothing or next to nothing. This was probably the greatest expansion of the world market in history. And yet, according to national income measurements of the CIA, OECD, World Bank and IMF, this gigantic expansion of market production, led to a decline in market production in the very countries where it was introduced. How to ...

Measuring National Income in the Centrally Planned Economies: Why the West Underestimated the Transition to Capitalism 2014, Routledge, London

ISBN-13: 9781138818323

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