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In this collection of essays David A Dyker explores some of the most difficult and fascinating aspects of the process of transition from autocratic “real socialism” to a capitalism that is sometimes democratic, sometimes authoritarian. The stress is on the economic dimension of transformation, but the author sets the economic drama firmly within a political economy framework and a historical perspective. Trends in key economic variables are analysed against the background of the struggle between different social and political groups for power and command over resources. While the book pays due attention to topical issues like EU enlargement, the underlying perspective is a long-term one. Transition is viewed not as a set of once-and-for-all institutional changes or a process of short-term stabilisation, but as a historic opportunity to solve the inherited problem of poverty and underdevelopment in Central-East Europe and the former Soviet Union. The book ends with a critical assessment of how economics, as a discipline, has coped with the challenge of that historic opportunity. Contents:The Political Economy of TransitionTransition and the Global EconomyThe East European Countries and the European UnionTechnology and TransitionPatterns and ProspectsBy Way of Conclusion Readership: Social scientists with interest in transition countries; transition and East Europe specialists; public policy bodies and international aid communities; undergraduates who major in social science. Keywords:Nomenklatura Nationalism;Transition;Post-Socialist;Russian R&D;Former Soviet Union;Social Capability;Technology Absorption;EU Enlargement;Economic Development;Supply Networks;Central-East EuropeReviews:“Transition of the post-Communist states has become a primary area of research for a number of scholars, and David Dyker is one of the most experienced and productive author among them. His latest book proves this in a very clear way … the book of David Dyker is one of the best that was written on transition economies and it could be highly recommended to all who are interested in these issues of transition.”Dr Igor Yegorov National Academy of Sciences of Ukraine “This book attempts to interpret the economic and historical implications of transition within the framework of catching up industrialization, and this reviewer basically agrees with the auguments of the book. In sum it provides a basis for a detailed reconsideration of the concepts of catching up and social capability.”The Developing Economies