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Building Capitalism:
The Transformation of the Former Soviet Bloc
(Cambridge University Press, 2002)

Featuring the author, Anders Åslund, Carnegie Endowment for International Peace; with comments by Stanley Fischer, International Monetary Fund.

The Cato Institute
1000 Massachusetts Avenue, NW
Washington, DC 20001

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The fall of socialism in Eastern Europe and the Soviet Union more than 10 years ago has produced both disappointing and encouraging results. Anders Åslund will describe two alternative courses to capitalism that have been followed by postsocialist countries that have not chosen radical reform: state despotism, as in the case of Belarus, or the rent-seeking state, as in the case of Russia. He will explain how systemic reform is strongly related to both political competition and economic growth. Åslund will also debunk various myths about the transition to the market, including those regarding inequality, privatization, and the collapse of growth. Stanley Fischer will provide his own insights and critiques of Åslund’s book.