Why Perestroika Failed

Peter Boettke's book is one of the few in which an economist deploys his own disciplines in that fuller context [to address the structural problems of the Soviet system]. - The Times Literary Supplement This is a well-written and occassionaly polemical analysis of what was wrong with Marx's vision of socialism and with its Soviet version, and of the attempts to reform the system, plus some guidelines as to how to achieve a rapid transition to capitalism. . . Many times Boettke hits his target with precise effect. Thus he correctly stresses the utopian elements in Marx's vision of socialism, the irrationalities and distortions typical of the traditional Soviet system, as well as the contradictions which accompanied the attempts to reform it under Gorbachev. - Review of Political Economy An excellent analysis of the failure of the ACE [Administrative Command Economy] in general, and perestroika in particular, drawing on many insights from Austrian economics and public choice theory. -Edwin G. Dolan, University of Glasgow Within the recent wave of reflection on perestroika Boettke's book is among those with the highest theoretical ambitions. . . The book is inspired by the HUme-Hayek tradition, which is extremely well applied in the explanations of the structural weaknesses perestroika failed to overcome. Perestroika did not bring changes in institutional rules which would allow experiments in social organization that are seen as basic requirements of any sustainable economic system. . .Whether you agree or disagree with the arguments the book gives an excellent and consistent view on the topic. - Europe-Asia Studies