Social Reality & "Free Markets": A Letter to Friends in Eastern Europe

In: Dissent: a journal devoted to radical ideas and the values of socialism and democracy, Volume 37, p. 224-228

Abstract

A letter of advice & direction to the people of Eastern Europe concerning the place of a market economy in a democratic country. It has been historically true that countries with a capitalistic market economy have democratic governments while countries with a socialist command economy are usually burdened with authoritarian regimes, suggesting a basic incompatibility between state-owned, centrally directed economies & democracy. It is argued that, if Eastern Europe is to continue on its road to democracy, ties with a socialist command economy must be sacrificed for participation in a market economy. However, Eastern Europe should find a compromise between the economic system being rejected & a total reliance on a capitalistic market economy. R. Logsdon