Transition, Convergence, and Labor Market Adjustment in Prospect and in Hindsight

[...]we both took a broad social science perspective to looking at transition rather than a narrow economic perspective. [...]the experience of central planning endowed these countries with a range of characteristics that differentiated them from other countries with similar income levels. [...]the convergence perspective can be extended beyond just "technology". [...]we thought we would see great gains in allocative efficiency given the massive reallocation of capital and labor across and within sectors.