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Much of this paper are comments on, and interpretations of, the institutional reforms during the last few decades in the formerly centrally planned economies, especially in Poland.
Major Institutional changes started in China in the years 1978–1980, to be followed by similarly large changes in the countries of Central Europe and the former USSR in the years 1989–1991, Their revolutionary economic and social systems, based on central management, state ownership, and dominant role of central preferences, then started to be replaced by the