Hungary's Malaise

Hungary's Malaise

relative prosperity, the country has won the admiration of more than one Western observer.
But Volgyes, a Rutgers political scientist, warns of troubles to come. Outwardly stable, Hungary's "economic, social, and political life," he argues, "is very close to a major crisis."
In 1968, Hungarian Communist Party chief Janos Kadar launched a series of reforms known as the New Economic Mechanism. Stressing a flexible price structure, upgrading the role of the consumer, and mini-...

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