In This Review

The Role of Finance in the Transition to Socialism
The Role of Finance in the Transition to Socialism
By Stepheny Griffith-Jones
Allanheld, Osmun, 1981, 194 pp

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.