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Home > Catalogue > How Capitalism Was Built
How Capitalism Was Built


  • 7 tables
  • Page extent: 376 pages
  • Size: 228 x 152 mm
  • Weight: 0.62 kg

Library of Congress

  • Dewey number: 330.9470009/049
  • Dewey version: 22
  • LC Classification: HC244 .A8135 2007
  • LC Subject headings:
    • Former communist countries--Economic policy
    • Former communist countries--Economic conditions
    • Post-communism--Former communist countries
    • Privatization--Former communist countries

Library of Congress Record


 (ISBN-13: 9780521865265)

  • There was also a Paperback of this title but it is no longer available | Adobe eBook
  • Published November 2007

Replaced by 9781107026544

 (Stock level updated: 17:01 GMT, 25 November 2015)


Anders Åslund foresaw the collapse of the Soviet Union in his book Gorbachev's Struggle for Economic Reform (1989). He depicted the success of Russia's market transformation in How Russia Became a Market Economy (1995). After Russia's financial crisis of 1998, Åslund insisted that Russia had no choice but to adjust to the world market (Building Capitalism, 2001), though most observers declared the market economic experiment a failure. Why did Russia not choose Chinese gradual reforms? Why are the former Soviet countries growing much faster than the Central European economies? How did the oligarchs arise? Who is in charge now? These are just some of the questions answered in How Capitalism Was Built, covering twenty-one former communist countries from 1989 to 2006. Anybody who wants to understand the confusing dramas unfolding in the region and to obtain an early insight into the future will find this book useful and intellectually stimulating.

• Covers all 21 countries of the region clearly and compactly • Provides a geographic and thematic approach • A strong analysis on postcommunist transformation suitable for economists, political scientists, and area studies specialists alike


Introduction: a world transformed; 1. Communism and its demise; 2. Shock therapy vs. gradualism; 3. Output: slump and recovery; 4. Liberalisation: the creation of a market economy; 5. From hyper-inflation to financial stability; 6. Privatisation: the establishment of private property rights; 7. An inefficient social system; 8. Democracy vs. authoritarianism; 9. From crime toward law; 10. The role of oligarchs; 11. The role of international assistance; 12. Conclusions: a world transformed.

Prize Winner

The Economist's Best 100 Books 2007 - Finalist


' … a must for anyone interested in the transformation of post-communist economies.' The International Spectator

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