From the Soviet bloc to the European Union : the economic and social transformation of Central and Eastern Europe since 1973 /

Anyone interested in how and why former socialist economies in central and eastern Europe transformed in the 1990s to market-oriented economies will find this concise, well-written book informative and delightfully refreshing. Beginning with the oil crisis in the early 1970s, Berend (UCLA) presents a clear, nontechnical analysis of factors contributing to structural change in the domestic and global economies that brought about the transformation. He pulls no punches when describing policy mistakes in the East and West, or when focusing on the influence of EU and foreign direct investment on the transformation process and outcomes. Particularly satisfying are the analysis of economic restructuring and the discussion of the consequences of the transformation on welfare. This book effectively substitutes for dozens of readings typically assigned in undergraduate and graduate courses on economic system transition. Figures and tables provide a clear summary of the economic and social impact of the transition. A dozen vignettes are included to further illustrate the magnitude of change. The quantity and quality of information and analysis makes this book essential reading. This reviewer plans to adopt it as required reading in upper-division undergraduate economics courses. Summing Up: Highly recommended. All readership levels. S. J. Linz Michigan State University