For Whom the Wall Fell? A Balance Sheet of the Transition to Capitalism

Only 1 out of 10 people living in “transition” countries have seen a successful transition to capitalism and more democracy.

By Branko Milanovic, November 7, 2014  |  http://www.theglobalist.com/for-whom-the-wall-fell-a-balance-sheet-of-the-transition-to-capitalism/

Takeaways

• After a quarter century, what does a country-by-country balance sheet of the transition to capitalism reveal?
• For all its resource riches, Russia has produced very modest decreases in poverty since 1990.
• The high hopes of 1989 are fulfilled most likely in only one country, Poland.
• The Wall only fell for some countries – despite the supposed triumph of liberal democracy and free markets.http://www.theglobalist.com/for-whom-the-wall-fell-a-balance-sheet-of-the-transition-to-capitalism/