The revolutionary changes of 1989 have seen most of the centrally planned economies finalizing a long process of discarding the restraints of planning. These changes involve economic moves to decentralize economic decision-making, introduce market mechanisms and privatize state-owned property. A central thesis of this book is that an uncritical acceptance of the market mechanism will not lead to greater efficiency or increased output. Rather, it may result in more economic problems. The economic reform movement is critically evaluated by economists from a number of different countries. They provide a critique of the standard neo-classical position which has been used to justify the reforms. The book offers an alternative route to economic reform based on Post-Keynesian and Kaleckian traditions, that combines both individual diversity as well as control over key sectors to maintain an acceptable level of economic stability and growth.