From Socialism to the Market Economy: Postwar West Germany versus Post-1989 East Bloc
By Svetozar Pejovich
This article appeared in the Summer 2001 issue of The Independent Review

Why have some former Soviet-bloc countries had a smoother transition from socialism than others, and why have none adjusted as well as West Germany in the 1950s? The answer lies in the interaction of three factors: the rule of law, the carriers of institutional restructuring, and the informal rules of the community.

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