States And Markets

Initial excitement in the West over the reform of Soviet communism under Gorbachev and then euphoria over the disintegration of the USSR have now been replaced by concern, controversy, and sometimes despair over prospects for democracy and a marlcet economy in the countries of the former Soviet Union. Despair is reflected in the popular joke that the transition from a communist centrally planned economy to a capitalist market economy is like the transition from fiSh soup. to an aquarium. Only ti