Economic Coherence and the Transformation of Planned Economies into Monetary Economies

Abstract

The countries of Eastern Europe are currently in a process of transition from the working mechanisms of planned economies to those of monetary economies. With the exception of the Soviet Union, where certain segments of society are attempting to create a market-oriented socialism, the Eastem European countries have discarded the concept of central planning and have accepted the idea of establishing the dominance of mechanisms central to monetary economies.' The radical changes taking place in the formerly planned economies of Eastem Europe encompass the totality of social relations. In this essay, however,