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Invisible hand might work in a liberal capitalist law-abiding society. Russia in 90s lacked most of these.
by rich_sasha 5y ago
Invisible hand might work in a liberal capitalist law-abiding society. Russia in 90s lacked most of these.
- mnau 5y agoTrust me, most of former eastern block hasn’t been much better. Mine country certainly lacked it. There were no laws against most of the stuff that happened. You took a loan and had no collateral? Perfectly fine. 90s was the second biggest theft of last century(after commie nationalization/theft). All wealth concentrated in hands of few who then use the economic power as a leverage over politics. I am pretty sure we got saved by EU, otherwise whole eastern block would be similar to Ukraine/Russia/Moldavia. EU forced a lot of laws and reforms that really helped and were needed.