Prague Economic Papers 1997, 6(1) | DOI: 10.18267/j.pep.117

Czech privatization - penalties for the speed (a criticism of the radical liberalism)

Lubomír Mlčoch

The Czech way of privatisation is frequently well appreciated, sometimes even as the lesson to be learned or model to be followed. The main topics pointed in the article are following: Is the voucher scheme in the situation of the lack of domestic capital a model to be followed? Mlčoch thinks the Czech way was "short". He considers the "short way" negative, inconsistent with his belief. Mlčoch also mentioned other problems of privatisation in the Czech Republic: Trade-off between the speed of change and business ethics, asymmetry between the nationalisation and privatisation, the speedy privatisation endangering the order, the fast privatisation endangered by formalism, the conflict between efficiency and social justice. He also put down the German case of shock therapy and the price that had to be paid.

Published: January 1, 1997  Show citation