Prior to the failure of communism in the Eastern Bloc, reform minded economists had experimented with the concepts of market socialism' which presented no real challenge to the basics of the Soviet-type system. However, those same economists are now formulating radical proposals for deregulation, privatization and political democratization. Reform and Transformation in Eastern Europe tries to understand the intellectual background that changed these reformers' into transformers' and examines the problems of managing this dramatic transition. The authors demonstrate the rediscovery of economic liberalism is Eastern Europe and provide a fresh look at economics in this area. Reform Economics' is treated as a legitimate area of economic theory rather than simply a corollary of reform making. Contributors include some of the most distinguished economists in Europe and leading policy makers from the Post Socialist World.