The Role of Finance in the Transition to Socialism

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The Role of Finance in the Transition to Socialism

By Stepheny Griffith-Jones
Allanheld, Osmun, 1981
194 pp. $26.50
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To be successful, socialism requires sound finance. That is the essence of this fascinating study showing how much damage was suffered by socialist regimes which at an early stage ignored or misunderstood financial and monetary problems. The early years of the Soviet Union, Czechoslovakia in 1945-48, and Allende's Chile-where the author was a bank official-are the cases from which Griffith-Jones draws both the lessons and the pointers toward what is needed to "modernize" revolutionary thinking.

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