Capitalism with a Comrade's Face

Are nations that are moving away from Communism succeeding in becoing free-market democracies? In what ways do decades of totalitarian rule continue to distort the institutional shape of these societies? Which of Communism's legacies may remain as permanent features of their landscape? To answer these questions, this text analyses the turbulent transitions that have taken place in the post-Communist world since 1989-91. Each of the chapters dissects institutional upheaval in a particular institution in transition-central banking, the trade union movement, capital markets, or corporate governance. The authors bring out the links between what was and what will be the social fabric of Eastern Europe and the former Soviet Union. They expose the fragility of political and economic institutions that can easily threaten the region's rebirth, but they also believe that many post-Communist countries are successfully seizing the opportunity to become reunited with the West and global economy.