Abstract
The year 1989 wll be remembered in history as the year of the collapse of the Soviet system, a sudden and entirely unexpected event which unfolded at a rapid pace without even one voice being raised to defend it. Nor could it be otherwise, given the irrationality and inefficiency and the despotism of these regimes. Nevertheless it would be misleading to equate the dissolution of command economies with the end of socialism (as an alternative system to capitalism). In point of fact, if capitalism is an economic system characterized by the private ownership of production means and if, conversely, socialism is (in its traditional definition) a system characterized by the public ownership of production means, then Eastern European countries intending to reintroduce market mechanisms into their economies have two options: capitalism or socialism with autonomous enterprises. In Amartya Sen’s ([42], p. 5) words, ≪the contrast between capitalism and socialism is not the same as that between market and non-market allocation. indeed, many of the main results in the theory of resource allocation involving the market mechanism were first investigated and established by economists looking for socialist allocation procedures, Oscar Lange and Abba Lerner being two of the greatest of this class≫.
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Jossa, B. (1993). Is There an Option to the Denationalization of Eastern European Enterprises?. In: Baldassarri, M., Paganetto, L., Phelps, E.S. (eds) Privatization Processes in Eastern Europe. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23090-7_10
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