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Article title
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Abstract
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Keywords
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1. Introduction
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2. A centrally planned economy: Its birth and evolution
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3. How to reform a communist economy: Three directions of thinking
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3.1. Rationalization of central planning
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3.2. Democratization of central planning
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3.3. Decentralized economy without private enterprises (market socialism)
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4. Market socialism: Theoretical and practical dilemmas
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4.1. Mechanisms to protect enterprise autonomy
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4.2. The microeconomic behavior of a self-managed enterprise
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4.3. Distribution of the enterprise’s income and investment decisions
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4.4. Functioning of the market for goods and services, the labor market, and the capital market
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4.5. Innovativeness
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5. Market socialism: Summary of experience and lessons for transition‑related reforms in the 1990s
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5.1. Summary of experience in implementing market socialism reforms
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5.2. Economic performance
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5.3. Lessons for future reforms
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6. Summary and conclusions
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References
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