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1 of 1 people found the following review helpful:
Excellent on critique and on available alternatives, 20 Sep 1998
By A Customer
Reviewed by Andrew Kilmister in Labour Focus on Eastern Europe, no. 59, 1998 (re-printed with permission): László Andor and Martin Summers, Market Failure: Eastern Europe's "Economic Miracle" (Pluto Press 1998) pp. vi + 209, ISBN 0 7453 0886 4 (pb), £9.99.Up until now there has been no general overview of economic developments in Central and Eastern Europe and the former USSR since 1989 written from the left. This book aims to fill that gap. Written by Laszlo Andor, a lecturer at the Budapest University of Economic Sciences associated with the Hungarian Left Alternative grouping, and by Martin Summers who has worked on Eastern Europe for the Catholic Fund for Overseas Development and the New Economics Foundation, it represents a searing attack on the management of economic policy in the region over the last decade. Those determining this policy, both from inside the region as neo-liberal politicians and from outside as economic advisers, are described by Andor and Summers as "Market Maoists" who are undertaking a "Great Bourgeois Cultural Revolution". Like Mao in the Great Leap Forward of 1959 the Market Maoists have substituted an idealist revolution based on a schematic plan for an analysis of concrete realities. This book is designed to outline the effect of this revolution on the peoples of the region and to suggest alternatives. Andor and Summers begin by outlining the context within which transition in Eastern Europe has taken place, with a special focus on the role of the international institutions such as the IMF and World Bank. They compare the activities of these institutions and related `experts' with their roles in other regions, notably Latin America, and argue that differing institutional policies, for example those propounded by Jacques Attali during his period in charge of the |
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