Understanding the Market Economy Paperback - 1992

From the rear cover

This book is primarily concerned with describing the economic institutions and functions of market-oriented economies and the theories to explain them. This explanation is directed in particular at readers in the former planned economies who are familiar with neither the institutions nor the theories and so the principles of market economics are expounded especially in the context of the main problems facing economies in transition from a centrally planned to a market structure, namely privatization, the role of money, environmental policy, and international trade. Examples and real-life experiences, rather than formal equations, are employed to bring home vital points, making the book accessible to the reader without formal training in economics. As well as providing an ideal introduction to the market economy for East and Central European students and businessmen, the book will also be of interest to Western students looking for a non-technical treatment of many current issues of economic organization, setting out these fundamental issues clearly for those who have not previously studied them. Though the focus is on East and Central Europe, the discussion is also relevant to the privatization process in market economies and serves as a useful introduction to general economic principles.