Legality and Market Reform in Soviet-Type Economies
指出苏联式经济体缺乏经济法治，这是向市场经济成功转型的前提；没有法治，私有产权和市场激励无法落实，改革可能导致经济衰退、通胀和收入两极分化。
The classical Soviet-type system operates in the virtual absence of economic legality, which is a prerequisite to a successful transition to a market economy in the Soviet Union and the nations of Eastern Europe. In the absence of economic legality, the leadership of these countries will not be able to implement a credible commitment to private property rights or any other effective market incentive mechanism. In addition, they will be unable to promote the growth of multilateral impersonal trade. Without legality, a shift away from central planning toward market allocation may very likely lead to economic decline, inflationary pressures, and a polarization in income distribution, which, in turn, could unleash political reaction against the reform process in general.