Description
Three decades ago the countries of Eastern Europe escaped from the control of Soviet Union. The transitions were largely peaceful and succeeded far more than many observers at the time thought they would. In fact, many of the former Soviet controlled countries now have economic policies that are more in line with those advocated by Friedrich Hayek than are the economic policies of the U.S.. Rahn and Kostadinova and will discuss the lessons learned from the transitions made by Eastern Bloc countries and how they relate to today’s economic problems.