Searching for New Development Strategies-Challenges of Social Summit

Challenges of Social Summit Ignacy Sachs A widespread social crisis in different farms and with different degrees of intensity is affecting third-world countries, eastern-Europe and the former Soviet Union (today known as countries in transition), and even industrialised countries. The indiscriminate opening of the economies of the South has created the risk of intensifying the process of the dualisation of the economy and society. The countries in transitions face the three-fold challenge of stabilising their economies, creating institutions for the functioning of market-led economies and of undertaking a thorough restructuring of their productive capacities. The most important challenge in the coming years will be that of the renewal of development thinking and a search for new development paradise.