It has become a kind of commonplace that the neoliberal reforms in Russia have had a devastating impact on living standards. A recent chapter of the East European thriller tells us about the immorality of the shock therapists too. Anatoly Chubais, once finance minister and deputy prime minister of Russia, for instance, was involved in privatization deals that fall into the category of abuse of power. (First published in Socialist Economic Bulletin, UK.)

The well-known American political economist argues that the main cause of the so-called Russian crisis is the neoliberal shock therapy that has been pursued in Russia since the early 1990s. The IMF is directly responsible for the economic and social decline of the former Soviot republics. Instead of following the current Washington recipees, the policy of renewal should follow measures comparable to the original New Deal. (First published in Dollars and Sense, US.)

The author responds to the lexikon article of our last issue. He discusse;. the basic concepts of pension theory and those related to the practice of pension systems. Having read his tract, the reader remains without doubts about the beneficiaries of the contemporary pension reforms ol Hungary.