Understanding Economic Transitions: Plan and Market Under the New Globalization

Understanding Economic Transitions explains the origins, operations, and transformations of the centrally planned socialist economy, which was prevalent in Europe and Asia in the twentieth century. It also discusses the shift from nonindustrial to industrial economies and the onset of ICT-driven globalization. The book combines theory, empirical evidence, and country case studies to explore the enduring lessons from the transition from socialism to capitalism. It emphasizes the importance of economic planning and the dynamics of systemic transition in formerly socialist countries. With its comprehensive content and pedagogical features, the textbook prepares students to understand how economies transition and why.

Format: Paperback / softback
Length: 312 pages
Publication date: 15 February 2023
Publisher: Springer International Publishing AG

Understanding Economic Transitions delves into the intricate origins, functioning, and transformative journey of the centrally planned socialist economy, which played a significant role in the lives of billions across Europe and Asia during the twentieth century. Moreover, the decline of the centrally planned socialist economy coincided with a profound shift from nonindustrial to industrial economies, as well as the emergence of ICT-driven globalization. This book employs a combination of theoretical frameworks, empirical evidence, and case studies from select countries to unravel the enduring lessons learned from the diverse and complex pathways of transition from socialism to capitalism.

Understanding Economic Transitions serves as a self-contained and comprehensive textbook that offers a thorough examination of modern economic systems. It possesses four distinct features that are particularly valuable to students:

Comparative Institutionalism: This textbook employs the lens of comparative institutionalism to explore the varieties of planned and market-driven systems that exist today. By integrating theory and evidence, it provides a fresh perspective on the evolving boundaries between state and market.

Serious Engagement with Economic Planning: This textbook takes economic planning, whether central, cooperative, or indicative, as a central marker of the ever-changing dynamics between state and market. It recognizes the significant role that economic planning plays in shaping the trajectory of economic transformation.

Focus on Systemic Transition in Formerly Socialist Countries: The book contextualizes the dynamics of systemic transition in formerly socialist countries by examining the factors that contributed to central planning, the modalities of transition employed, and the eventual outcomes in terms of liberal or illiberal capitalism. This approach offers a deep understanding of the complex processes that shaped these countries' economic landscapes.

Post-1990 Phase of Economic Globalization: Recognizing the profound impact of the post-1990 phase of economic globalization on these structural processes, the book explores the ways in which globalization has influenced and shaped the transition from socialism to capitalism. It sheds light on the challenges and opportunities that have arisen during this period.

With its clear, comprehensive content and practical pedagogical features, Understanding Economic Transitions equips students with the knowledge and tools necessary to comprehend the complexities of economic transition and its underlying drivers. It prepares them to analyze and interpret the economic developments in various countries and regions, and to understand the factors that shape economic systems and their evolution over time.

In conclusion, Understanding Economic Transitions is a valuable resource for students, scholars, and policymakers interested in exploring the intricacies of economic transition and its global implications. It provides a comprehensive and insightful treatment of modern economic systems, employing a comparative institutionalist approach to shed light on the enduring lessons learned from the diverse pathways of transition. By engaging with the book's content, students will gain a deeper understanding of the complexities of economic change and be well-prepared to navigate the challenges and opportunities of the contemporary economic landscape.

Weight: 528g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031215834
Edition number: 1st ed. 2023