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Flickers of Economic Light |
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Published by The Economist print edition
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Thursday, 03 September 1998 |
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Flickers of Economic Light">Flickers of Economic Light "Not all ex-communist countries share Russia’s economic chaos. Some are even functioning, and growing, market economies. What did they do right?...The invisible hand of the Habsburgs - Reaching further back, the Central Europeans who belonged to the Habsburg empire have tapped into a tradition of education, administration and commerce, backed by a middle-class, that looked west. Those ex-Soviet countries whose history is bound up with Byzantium and Orthodoxy looked the other way."
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