How to Privatize Successfully – Part I

Changing the economic system is not an easy task. And, of course, it is more complex when carried out half-heartedly. As privatisation is only a part of this process, it may not succeed if done in an isolated manner. It needs certain other changes and a competitive environment to bear fruit.
A case in point is Czechoslovakia. It provides us with a very good learning experience to see how after the fall of a collectivist state the gigantic task of changing the economic system was handled.
Presently, Dr Vaclav Klaus is

Continue Reading →