POL354Y5 Lecture Notes - Barter, Gosplan, Devaluation
Document Summary
These formal features & informal features had to be dismantled and replaced by private property & market mechanism as a pre- / co- condition for democratization. Imbalance & poor quality of consumer goods. Comparison of shatalin and ryzhkov plans (major features of debate) Some general issues arising out of eltsin"s economic. Collapse of economy (gdp, productivity, investment, etc); Collapse of trade (barter, failure to pay debts / wages, payments in kind); Growth state debt / failure to collect taxes; Lack of legal framework to develop market, institutions, protect private property; Widespread use of illegal methods, violence to provide security and settle legal disputes; Result: a weak" state, state controlled by & for interests of, state manages transfer of assets to private. Land legislation (urban & rural) allows privatization; Lack of a vision, strategy, plan to complete transition; Failure to develop adequate legislative framework for market and enforce existing legislation;
