The Road To A Free Economy: Shifting From A Socialist System: The Example Of Hungary

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The Road To A Free Economy: Shifting From A Socialist System: The Example Of Hungary

By Janos Kornai
Norton, 1990
224 pp. $16.95
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A talented and influential Hungarian economist, Kornai presented these recommendations for Hungary's revival in the original Hungarian version of this book, translated here for a worldwide readership. The title echoes Hayek's The Road to Serfdom, and the book prescribes strong medicine: free and expand the private sector; check inflation by holding down wages; liquidate state enterprises; promote democratic political change to provide the essential public support for necessary economic change. Half-measures, such as the reforms of 1968 and thereafter, will not work; it has to be all or nothing. The proposals, admittedly controversial, are specifically directed at Hungary but apply to any of the countries emerging from a command economy.

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