Abstract
The article by J. Stiglitz1 was devoted to a critical analysis of the practices and ideology of reforming the Eastern European, and first and foremost Russian, economies, and only in passing answers the title question—whither the reforms? The forecast estimates and practical recommendations are derived from the theoretical views of the author as expressed in the form of critical statements on the formula of the Washington consensus (WC)—a set of liberal market recommendations devised at the beginning of the 1980s by the International Monetary Fund [IMF], World Bank, and U.S. Department of the Treasury. It was juxtaposed with the formula of the post-Washington consensus (PWC), which was proposed by the author in the second half of the 1990s and was supported by some of his colleagues at the World Bank.
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