In this paper, the authors first discuss the Neumark and Troske piece, and then compare the U.S. context to that in Europe and Korea, as described by the Caspar, Hartwig, and Moench and the Cho and Shin contributions. Although they are in basic agreement with Neumark and Troske on the extent and depth of the current employment situation, they…

Discusses the state of the Soviet economy during the period of perestroika. Includes the level of output, rate of inflation, privatization, and proposals for economic reform. Assesses the stabilization program and possibilities of restructuring. Concludes that neither Mikhail Gorbachev nor perestroika are likely to survive the trials of inflation,…