Eastern Europe From State Socialism to Post-Socialist Depression

Post-Socialist Depression Ramnath Narayanswamy The experience of systemic transformation in eastern Europe since 1989 presents several sobering conclusions and despite their provisional nature, they are worth noting: The role of the stale in managing the transition cannot be wished away. The use of ' shock therapy', while admissible in terms of achieving macro-economic stabilisation, can be disastrous if it is concaved in terms of structural transformation. And the element of speed has little to do with the success of the transition.