Capitalism, in the gospel that spread across post-Communist Europe, is about markets. And markets mean privatization. The fire-sale of publicly owned commodities in post-1989 eastern Europe had no historical precedent. The cult of privatization in western Europe that had gathered pace from the late Seventies (see Chapter 16) offered a template for the helter-skelter retreat from state ownership in the East; but otherwise they had very little in common. Capitalism, as it had emerged in the Atlantic world and Western Europe over the course of four centuries, was accompanied by laws,
...more
