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The Neoclassical Gradualist Process of Transition: Preventive Therapy

In: Consistency and Viability of Islamic Economic Systems and the Transition Process

Author

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  • John Marangos

    (University of Crete)

Abstract

The fundamental basis of the neoclassical gradualist (from now on gradualist) process to transition in CEEFSU was to establish economic, institutional, political, and ideological structures before any attempt at liberalization. Without this minimum foundation, radical reforms would have inhibited the development of a competitive market capitalist system. This was because “privatization, marketization, and the introduction of competition cannot be contemplated in an economy reduced to barter” (Carrington 1992, p. 24). Also, the implementation of the reform program required minimum standards of living; otherwise, the social fabric of the whole society would have been at risk. The reform had to foster a social consensus that endorsed a system of secure private property rights and had to be guided by the principles of voluntariness and free choice.

Suggested Citation

  • John Marangos, 2013. "The Neoclassical Gradualist Process of Transition: Preventive Therapy," Palgrave Macmillan Books, in: Consistency and Viability of Islamic Economic Systems and the Transition Process, chapter 0, pages 187-222, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-32726-0_6
    DOI: 10.1057/9781137327260_6
    as

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