Quarterly Journal of Austrian Economics

Facebook icon
LinkedIn icon
Twitter icon
A
A
< | < | <

Restructuring Before Privatization — Putting the Cart Before the Horse: A Case Study of the Steel Industry in Romania

  • The Quarterly Journal of Austrian Economics
0 Views

Tags Legal SystemCalculation and KnowledgeInterventionismPolitical Theory

07/30/2014Peter T. CalcagnoFrank Hefner

 

Volume 9, no. 1 (Spring 2006)

 

The Eastern European countries have been going through a transition phase since the liberalization of their economies with the collapse of communist regimes in the early 1990s. The attempts at transition from a centrally planned economy to a market based one has provided a fascinating laboratory for research in both theory and practice. The problems of how to make the transition are not fully resolved. Economists are still debating various strategies. While the neoclassical economists focus on the macroeconomic issues of the transition process, the Austrian School puts the focus on the microeconomic issues. Part of the ongoing debate among neoclassical economists is whether state owned industries need to be restructured before they can be privatized. Romania is an interesting case.

Image source:

Cite This Article

Calcagno, Peter T., Frank Hefner, and Marius Dan. "Restructuring Before Privatization — Putting the Cart Before the Horse: A Case Study of the Steel Industry in Romania." The Quarterly Journal of Austrian Economics 9, no. 1 (Spring 2006): 27–45.

Shield icon interview