Eastern Europe: How the Other Half Lives

EASTERN EUROPE

While Russia's grain shortage makes the news, it is only the most prominent of a whole basketful of economic problems that plague the Communist bloc. COMECON, the eight-nation group created by the Communists in frank imitation of the Common Market, not only has failed to relieve the economic chaos in Eastern Europe, but in many ways has actually worsened it. So nightmarish is their job that the satellite economists have begun to grumble openly.

A group of leading Czech economists recently blasted nationalization and collectivization, and called for the introduction of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!