The Move to the Market

Abstract

The changes in the dominant economic paradigm that occurred in the late 1970s and early 1980s, with most. ‘mixed’ economies in the world adopting more market-orientated economic strategies, was mirrored in the late 1980s by the dramatic collapse of communist states. The relinquishing of communist ideologies has resulted in these countries searching for new relationships between the state and the market. Central planning had failed to achieve the economic and social developments expected of it and the market economy was seen as the answer to the ‘failures’ of socialism.