2019

2015

The Market Before the Market

When East-Central Europe made the transition to market economies after 1989, journalists sometimes referred to the process as “overnight capitalism.” This gave the impression that the countries in the region were Communist one day and capitalist the next. In fact, the market was present in most of the countries in the region in one form… Continue reading The Market Before the Market

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The Disappointment of Fulfilled Dreams

“May your dreams come true” is purportedly an ancient Chinese curse. Although it is probably apocryphal – just as the Chinese never say “may you live in interesting times” — the phrase does contain an element of truth. It is often the longing and anticipation that we crave, not the realization of our hopes. Nothing… Continue reading The Disappointment of Fulfilled Dreams

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2014