What is to be Done?

This book presents a plan for converting the failing economy of the Soviet Union or its constituent republics to a functioning market economy. Its authors Wil Albeda, Petr O. Aven, Richard N. Cooper, Alfred E. Kahn, William D. Nordhaus, Merton J. Peck, Thomas J. Richardson, and Kimio Uno - describe the essential logic of the institutions of a market economy and show how these institutions are dependent on one another. They argue persuasively for their drastic and simultaneous reform within the Soviet system, either at the central or the republican level. Written at the request of Soviet economists and with their participation, the book is for anyone who wishes to understand the worsening economic crisis in the Soviet Union and the reasons why a rapid move to the market would be beneficial and how it can be achieved.