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- W1555869672 abstract "Much economic thinking about current developments in Eastern Europe, where the transition from plan to market and from socialism to capitalism is underway, seems to show, once again, that economics is, indeed, the dismal science. Specifically, both western observers and policymakers in these countries appear to believe that there is some sort of large and negative supply-side shock that this transition imparts to the reforming economies. For lack of a more pejorative term, we will call this J-curve pessimism. Such J-curve pessimism does not appear to dominate other aspects of life. People who undertake diets or begin to exercise, for example, can correctly expect that this course of action will lead them to lose weight or become fitter in a way that is directly related to the rigor of their diet or exercise regime. It is only the dismal science of economics that would have them believe that their efforts would first lead to gains in weight or worsened fitness, and only in the distant future to an improved state of health." @default.
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- W1555869672 date "1993-01-01" @default.
- W1555869672 modified "2023-09-27" @default.
- W1555869672 title "Is There a J-Curve for the Economic Transition from Socialism to Capitalism?" @default.
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- W1555869672 doi "https://doi.org/10.1007/978-94-011-2206-1_13" @default.
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