Enterprise Restructuring in the former Soviet Union

Douglas Galbi

Distribution: Income, Wealth, Other
Welfare Economics: Allocative Efficiency, Externalities, Fairness, Altruism
Public Goods
Common Pool Resources
Production and Firm Behavior
Industrial Organization
Economic History
Law and Economics
Public Economics
Economic Systems
Macroeconomics and Monetary Economics
Market Structure
Agricultural and Natural Resource Economics
Health, Education, and Welfare
Economic Development, Technological Change, and Growth
Distribution: Income, Wealth, Other

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Citizens of the countries of the former Soviet Union (FSU) have recognized the potential benefits, observed in many different cultures and societies around the world, of private, market-driven enterprises. For more than half a century enterprises in the FSU have been subject to comprehensive state ownership and central planning. Prices and financing were typically of little concern to enterprise management, while workers did not have to worry about job security and received a wide range of social benefits through enterprises. While moving toward private, market-driven enterprises offers great promise for an improved standard of living for the average person, such a transition represents a fundamental social, psychological, and economic challenge.