In recent years, researchers on transition economies have concluded that income inequality increased in the former socialist countries of eastern Europe and central Asia despite the liberalization of political and economic life. This judgment, however, places too much credence in the data reported by socialist planners and underestimates the cumulative effect of the myriad inequalities present under socialism.
|Other Independent Review articles by David R. Henderson|
|Winter 2016||The Economy in 2065: Predictions and Cautions|
|Spring 2015||A Philosophical Economists Case against a Government-Guaranteed Basic Income|
|Spring 2014||The Inevitability of a U.S. Government Default|
|[View All (7)]|