When East European communism collapsed in the revolutions of 1989, the newly liberated countries discarded socialism altogether. For the first time, most of Eastern Europe experienced free elections and a multitude of parties, mostly with liberal, conservative or nationalist connotations, made their entry into political life. A bewildered world is now trying to imagine the future course of events. Has capitalism won or is something different emerging? Has market socialism vanished for good? How can the transitionary period be managed and what effect will it have on the standard of living in Eastern Europe? In this book, ten distinguished experts explore this transition to a market economy in Eastern Europe. In part I the authors consider what remains of market socialism. Wlodzimierz Brus discusses the future roles of both planning and the market, Mario Nuti argues that market socialism never existed, whilst Gerhard Fink outlines how a normal market economy can be established.