Archive for the ‘Eastern Europe’ Category
Eastern Europe is the opposite of Ukraine
February 24th, 2015 | 
Author: By Jonathan Power
Economically Ukraine continues to go down the chute. No other East European has messed up its economic potential, as has Ukraine. During Soviet times Ukraine with its industrial prowess and wonderful fertile soil, making it the Soviet Union’s breadbasket, was a success (by communist standards). Now 25 years of political upheaval, economic mismanagement and greed by the oligarchs have taken a dreadful tool on living standards. The stoicism of ordinary people is to be wondered at. One reason why many easterners want to return to Russia is because they think they will have higher living standards.
In an essay in the December, 2014, issue of Foreign Affairs Andrei Shleifer, a professor of economics at Harvard and Daniel Treisman, a professor of political science at the university of California have presented an analysis of what went right in the other east European countries, and, a for a time, in Russia under President Vladimir Putin. They write: “The East European countries have transformed their militarized, over industrialized and state-dominated systems into service-orientated market economies based on private ownership and integrated into global commercial networks. No longer distorted to fit Marxist blueprints, their economic institutions, trade, and regulatory environments today look much like those of other countries at similar income levels.
These changes notwithstanding, observers often blame post-communist reforms for poor economic performance. Two common charges are Read the rest of this entry »
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