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.

Other Independent Review articles by Svetozar Pejovich
    Fall 2005   On the Privatization of “Stolen Goods” in Central and Eastern Europe
    Summer 2003   Transition
    Fall 1997   Law, Tradition, and the Transition in Eastern Europe