Nee's market transition theory claims that redistributive power will decline and returns to human capital will increase as state socialist economies are transformed into market economies. However, many other scholars have discovered that either the influence of redistributive power persists or returns to human capital decline. In this paper, I analyze the effect of marketization on individuals=...

State socialist economies provided public housing to urban citizens at nominal cost, while allocating larger and better quality apartments to individuals in elite occupations. In transitions to a market economy, ownership is typically transferred to existing occupants at deeply discounted prices, making home equity the largest component of household wealth. Housing privatization is therefore a ...

The tremendous changes in China’s development philosophy and regional economies during the last two decades have carved out selectively new locations of development across the nation. While politicians heatedly debate the acceptable levels of regional inequality, most scholarly studies focus on broad aggregate trends of inequality among provinces and groups of provinces, and pay little attentio...

The paper discusses the reasons for the observed variation in the sequencing, speed and content of reform policies, in the 1990s, among 25 post-socialist countries of Central Europe and the Former Soviet Union. It argues that these differences, while considerable in the early 1990s, did not amount to as substantially different reform strategies as it was often claimed and, in any case, have for...

The role of market-oriented tourist policies in the planned economies socialist Eastern Europe has been long overlooked. This article examines how regime Romania moved from sheer ideological rhetoric to commercialism and market-driven strategies when promoting as a destination ‘West’ between 1960s 1980s. It argues that there was continual shifting using tourism an tool certain pragmatism needed...

In a period when the globalisation of the World is recognised by all, and systemic problems are emerging on a global scale. A search for systemic solutions is on the agenda. This paper offers a critical in depth discussion of the political co-ordination in Central and Eastern Europe before 1989 implemented through the Central Plan, and compares this with other models of regulation of economic a...

would like to thank Mark Watson for correcting a mistake in his summary of Cantor’s argument. 1A note on citations: Mises’s article appeared in German in 1920. An English translation, “Economic Calculation in the Socialist Commonwealth,” appeared in Hayek’s (1990) collection Collectivist Economic Planning in 1935. 2The current paper assumes a basic familiarity with the socialist calculation deb...