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Published Book or Work by:

Sam Vaknin

Economies in Transition

Economies in Transition
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Published by Nova Literatura
October 1998
ISBN: 9989-610-01-0

After the Rain - How the West Lost the East
A Macedonian Encounter
(Studying Economy Through the Macedonian Experience)

By: Sam Vaknin, Ph.D.

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This is a series of articles written and published in 1996 - 2000 in Macedonia's leading newspaper, "Nova Makedonija" , in "Makedonija Denes", in "Dnevnik", in the Russian daily "Izvestia", in the Egyptian weekly "The Middle East Times", in the Russian weekly "Argumenti i Fakti", in the Czech monthly "The New Presence", in the "Central Europe Review" and in other periodicals throughout Central and Eastern Europe (CEE) and the Balkans (Southeastern Europe).

Ostensibly, the articles deal with geopolitics or with the Macedonian, Russian, or Czech economies, cultures and societies-  and, they do.

Yet, these experiences are so concentrated - that they really serve as an ideal laboratory.

Take Macedonia, for instance. It was established in 1991. It had to withstand an embargo (a siege, actually), a collapse of its banking system, a collapse of a series of pyramid savings schemes, an acute contraction of its GDP and its industrial production, a yawning balance of payments deficit, dangerously high unemployment, inter-ethnic tensions - and this is a partial list.

However painful in human terms, this has transformed Macedonia into a fascinating case study in the workings of the economic mind, of economic principles and theories, of cultural transformation, of the psychohistory of transition.

This series of articles (constantly added to) explores these issues in depth.

I tried to remember the humans behind the figures and the tragedies behind the numbers.

Table of Contents

(Scroll Down or Click on the Blue Text to Review Each Topic)


Macroeconomics, Microeconomics

Topic: Issues in Microeconomics

Topic: The Public Sector

Topic: Banking and Finance

Topic: Issues in Macroeconomics

Topic: Capitalistic Musings

Central and Eastern Europe and the Balkan

Topic: Russia, Czech Republic
And Central Eastern Europe

Topic: The Balkan Cycle - Politics and Economies

Topic: The Republic of Macedonia

Topic: Issues in Microeconomics

The Good, the Bad and the Ugly:
Employees and Management Ownership of Firms

Small Businesses - Big Obstacles

Going Bankrupt in the World

Make Your Workers Your Partners

Models of Stock Valuation

Liquidity or Liquidation

The Blessings of the Black Economy

The Inferno of the Financial Director

Decision Support Systems

The Due Diligence Process

Financial Investor, Strategic Investor

Mortgage Backed Construction

The Internet in the Countries in Transition

Topic: The Public Sector

The Sickly State of Public Hospitals

The Public Sector - An Uncertain Future

The Public Sector in Economies in Transition

Public Procurement and Very Private Benefits

The Demise of the Dinosaur PTTs

Financing Transport Infrastructure

Topic: Banking and Finance

The Greatest Savings Crisis in History

The Typology of Financial Scandals

Bankers' Banks - The Role of Central Banks in Banking Crises

Hedging Foreign Exchange Risks

Danger - Banks Ahead!

Make Your Workers your Partners

Models of Stock Valuation

Liquidity or Liquidation

Should 1 DM be 40 Denars?

The Shadowy World of International Finance

Is Our Money Safe?

Alice in Credit Card Land

The Myth of the Earnings Yield

The European Bank for Retardation of Development

Topic: Issues in Macroeconomics

The Dismal Mind - Economics as a Pretension to Science

Infrastructure and Prosperity

To Tax, or Not to Tax - This is the Question

Battling Society's Cancer: Unemployment

The Ifs and VATs of Taxation

How do Other Countries Devalue their Currencies?

The Delicate Art of Balancing the Budget

Competition Laws

Should 1 DM be 40 Denars?

Growing Out of Unemployment

Foreign Investments - A Dialogue

Trade Imbalances and the Health of the Economy - a Dialogue

God's Diplomacy - International Trade

Economic Management in a State of War

Topic: Capitalistic Musings

Meritocracy and Brain Drain

The Professions of the Future

Winners of the 1997 Nobel Prize in Economic Sciences

Deja V-Euro: Previous Monetary Unions

Workaholism, Leisure and Pleasure

1997 in Perspective

IMF: Kill or Cure?

The Revolt of the Poor: Intellectual Property Rights

The Fabric of Economic Trust

The Distributive Justice of the Market

Immortality and Mortality in the Economic Sciences

Scavenger Economies and Predator Economies

Market Impeders and Market Inefficiencies

Notes on the Economics of Game Theory

The Redistributive Mechanism of Divorce

The Criminality of Transition

1998 - The End of Globalization

Knowledge and Power

Dividing the Loot

The Turtle Syndrome

The Predicament of the Newly Rich

On the Way to a Global Economic Calamity

The IMF Deconstructed - A Dialogue

The Future of Oil

The Solow Paradox

Financial Crises, Global Capital Flows and IFIs

The Myth of the Earnings Yield

Forward to the Past - Capitalism in Post-Communist Europe

The Varieties of Corruption

Topic: Russia, Czech Republic
Central Eastern Europe

Russia: Russian Roulette

Lucky Russia

What can the CNB Learn from Israel

New Paradigms, Old Cycles

Foreigners and the New Russian Economy

Central Europe - Or, The New Colonies

Lessons in Transition

Is Transition Possible?

Inside, Outside - The Diaspora and the State

The Magla Vocables

The Elders of Zion

The Rip van Winkle Institutions

The Author of this Article is a Racist

Rasputin in Transition

The Books of the Damned

The PCM Trail

The Expat Experts

To Give with Grace

The Titanic Waltz

The Janus Look

The False Maps of Maskirovka

The Tragedy of Errors (Book Review)

The Eureka Connection

The Betrayal of History (Book Review)

Straf - Corruption in CEE

Women in Transition:
From Post Feminism to Past Femininity

The Pettifogger Procurators

Axes to Grind - The Taxonomy of Political Conflict

The Concert of Europe, Interrupted

The Balkan Cycle - Politics and Economies

Visit my Author Archive in "Central Europe Review"

Visit "Balkan Lands"

Plight of the Kosovar

The Black Birds of Kosovo

Serendipitous Macedonia

The Defrosted War

The Bones of the Grenadier

Millenarian Thoughts about Kosovo

NATO's Next War

Why did Milosevic Surrender?

The Deadly Antlers

The Price of Kosovo

 ... and the Treasure Trove of Kosovo

The MinMaj Rule

The Phlegm and the Anima

The Dark Clouds of NATO

Black Magic, White Magic

The Bad Blood of Kosovo

Between Omerta and Vendetta

The Poets and the Eclipse

Homo Balkanus

Who will Guard the Guards?

Herzl's Butlers

The Honorary Academic

The Dance of Jael

The Myth of Great Albania - Introduction

The Myth of Great Albania - History - Part I

The Myth of Great Albania - History - Part II

The Myth of Great Albania - History - Part III

The Caveman and the Alien

The Magla Vocables

The Elders of Zion

The Rip van Winkle Institutions

The Mind of Darkness

The Last Family

The Friendly Club

The Author of this Article is a Racist

Rasputin in Transition

The Myths of Yugoslavia - Part I

The Myths of Yugoslavia - Part II

The Myths of Yugoslavia - Part III

The Union of Death -
Terrorists and Freedom Fighters in the Balkans

Macedonia to the Macedonians!

The Black Hand

The Insurgents and the Swastika

The Army of Liberation

Skopje - Where Time Stood Still

The False Maps of Maskirovka

The Crescent and the Cross - Introduction

The Crescent and the Cross - A First Encounter

The Crescent and the Cross - The Communities of God

The Eureka Connection

The Sergeant and the Girl

The Christiane Way

Notes from an Imploding Empire

The Second October Revolution - Book Review

After Milosevic, Milosevic

The Fifth Horseman

Slobodan Milosevic is Dead

Micromanaging Malignant Optimism

The Common Enemy

The Third Balkan War

Milosevic's Treasure Island

Bulgaria's Economy on the Path to the EU

The Victory is Montenegro

Bulgarians Vote for Food

New Serbia's Old Economy

The Eastern Question Revisited

Bulgaria's Only Hope

Bulgaria - Past, Present, and Multiethnic Future

Topic: The Republic of Macedonia

An Interview in "Nova Makedonija - Sabota"

Why is the Macedonian Stock Exchange Unsuccessful?

God's Diplomacy: International Trade and the Macedonian Economy

Should the Government Compensate the Clients of TAT?

Equity, Europe, Investments:
Three Wrong Orientations of the Macedonian Economy

Macedonia's Great Opportunity -
How to Write a Business Plan

A Casino in Macedonia - A Mistake or a Blessing?

The Ifs and VATs of Taxation in Macedonia

The Macedonian and the Tiger

A Suggested Economic Agenda for Macedonia

An Evaluation of the Devaluation

Marketing Macedonia

Does Macedonia Need Competition Laws?

Should 1 DM be 40 Denars?

Macedonia - Quo Vadis?

An Open Letter to the New Premier (21/9/98)

Curing Macedonia (Book Introduction)

Commentary by Mr. Svetozar Janevski

What Can the Macedonian Central Bank Learn from Israel

Taiwan, The IMF and Macedonia

Economic Free Zones in Macedonia

Unemployment in Macedonia

Ten Questions about Macedonia

Interview with DELO

The Friendly Club

The Books of the Damned

Interview with Makedonsko Sonce

Second Interview with Delo

Macedonia to the Macedonians!

Skopje - Where Time Stood Still

Macedonia - Year 2001 Report

The Common Enemy

No Albanian Intifada!

Surviving the Uprising

Interview with Minister of Finance, Nikola Gruevski

Interview with the Prime Minister, Ljubco Georgievski

The Patriarch of Industry - Interview with Svetozar Janevski

Macedonia is not Bosnia - Interview with Edward Joseph

Macedonia at a Crossroads

The Disingenuous Dialogue

Thucydides' Honour - Can the Albanians be Bought off?

Macedonia - The Brink and the Cusp

The Sudeten in Macedonia

The Dead Line

Interview with Pravda

Why the Agreement will Fail

The Macedonian Lottery

Interview with the President, Boris Trajkovski

(Articles are added periodically)

Encyclopedia of Economics in Economies in Transition (Babylon Site)

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Feel free to E-Mail the author at  palma@unet.com.mk
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The Internet - A Message or a Medium?

TrendSiters - Business on the Web

The Exporter's Pocketbook

Portfolio Management Theory and Technical Analysis Lecture Notes

Microeconomics and Macroeconomics Lecture Notes

Malignant Self Love - Narcissism Revisited

Philosophical Musings

Poetry of Healing and Abuse: My Poems

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