HOMEBLOGSAndrei Shleifer on Transitions from Communism
09 February 2012

Andrei Shleifer on Transitions from Communism

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André Shleifer reflects on the seven lessons we should learn from the economic transition from communism to capitalism. André knows because, on top of being an excellent economist and Harvard professor, he is originally from Russia and has been involved in some of the reforms.

I particularly like the conclusion of overstating the "memory" of financial markets. Russia defaulted in 1997-98 and, as soon as the markets saw that growth prospects returned to Russia, so did they! Perhaps this is a lesson Europeans should keep in mind today!

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Starting January 30, 2012, I decided to put the random (economic) thoughts that I was posting on Facebook, in a blog. In this site you will be able to read all Facebook notes going back to 2008, (without my Friend’s comments, unfortunately), but we will only maintain the new thoughts. If you want to check out the old comments, they are still posted on Facebook. If you want to comment on them, you have two options (1) Become a Facebook Subscriber. Since all the posts will also appear in Facebook, you will be able to comment there. (2) Comment on Twitter, as each post will also be announced in Twitter.