Grand designs are associated with great risk. So it was with Communism, so it with Liberal capitalism.
The victory of former communists in Poland, and more recently in Hungary's parliamentary elections, and strategic retreat of pro-reform parties and politicians in Russia, Belarus and Ukraine could mean that countries in Eastern Europe and the former Soviet Union are trying to achieve too much too fast in their market reforms.
This paper supports the gradualist position in Russia and maintains that transition can be managed more gently, with better protection for those who stand to lose. The Paper also claims that Russia should learn more from the East Asian model of economic and social development. From different aspects, especially because of the legacy of state-led command economy, can-style libertarian approach to reforms.

View full abstract