Part 1 The state of the Soviet economy: the Soviet economy - from crisis to catastrophe, G. Khanin; public attitudes to the transition, V. Kosmarskii; trends in employment and unemployment, S. Oxenstierna. Part 2 Stabilization and foreign trade: the emergence and stabilization of extreme inflationary pressures in the Soviet Union, A. Hansson; the role of the external sector during the transition, P. Sutela; monetary, financial and foreign exchange policy, B. Fedorov. Part 3 Possible new federal structures: the economic union of republics - federation, confederation, community, S. Aleksashenko; federalism and marketization in the Soviet Union, S. Brown. Part 4 How to face the future: a critique of Soviet reform plans, A. Aslund; the role of the state in transitional postcommunist economies, A. Bim; ulterior property rights and privatization, L. Grigoriev; the grand bargain, J. Sachs.