BRATISLAVA: In the ten years of postcommunist transition, political reform has often been reduced to the issue of holding free elections. Economic reform was often simplistically understood as only (or at least above all) encompassing macroeconomic stabilisation as promoted by the so-called 'Washington consensus,' now being condemned by demonstrators in the streets of Washington. It is no surprise that the results of so simplistic a policy prescription were often illiberal democracy and crony capitalism.
BRATISLAVA: In the ten years of postcommunist transition, political reform has often been reduced to the issue of holding free elections. Economic reform was often simplistically understood as only (or at least above all) encompassing macroeconomic stabilisation as promoted by the so-called 'Washington consensus,' now being condemned by demonstrators in the streets of Washington. It is no surprise that the results of so simplistic a policy prescription were often illiberal democracy and crony capitalism.