the transition to capitalism
Historically, communism and capitalism have been viewed as two opposing political and economic structures.
Under communism, the Communist party was the ruling class. The transition to capitalism stripped the Communist party of its political power and transferred it to the new class of entrepreneurs and capitalists.
The Discipline of Capitalism-They focus on the benefits and not the costs. However, the costs can hinder or even discourage a country form making the transition.
Responding to New Incentives-Finally, countries that make the transition to capitalism have to learn to live with a whole new set of incentives. Under the Soviet Union, people were told what to do, now they had to make decision on their own.
Countries in Transition:
Russia
Eastern Europe
Latin America
China
Under communism, the Communist party was the ruling class. The transition to capitalism stripped the Communist party of its political power and transferred it to the new class of entrepreneurs and capitalists.
The Discipline of Capitalism-They focus on the benefits and not the costs. However, the costs can hinder or even discourage a country form making the transition.
Responding to New Incentives-Finally, countries that make the transition to capitalism have to learn to live with a whole new set of incentives. Under the Soviet Union, people were told what to do, now they had to make decision on their own.
Countries in Transition:
Russia
Eastern Europe
Latin America
China