ukraine’s economy remains prisoner of socialism
why is the media, especially the western press, which wrote about ukraine so triumphantly three years ago, today so deeply disappointed…
why is the media, especially the western press, which wrote about ukraine so triumphantly three years ago, today so deeply disappointed with the lack of reform? why, following the euromaidan revolution, have attempts to fix ukraine’s economy failed? are ukrainians themselves to blame?
the answer to the last question is yes and no. the reforms failed because there was no consensus among ukraine’s benefactors, chiefly the international monetary fund and world bank, who offered flawed guidance about which changes were necessary and which were not. there was no consensus about what the reforms should be.
the battle between social-oriented, socialist economists on the left and libertarian economists on the right about economic reforms has been fought in the west for at least a century. in ukraine, they are still fighting.
“we should follow the example set by europe. let’s use the european model,” was the line often heard in kyiv following the ouster of ukraine’s disgraced…
