Making Capitalism Without Capitalists: Class Formation and Elite Struggles in Post-Communist Central Europe

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Eyal, Gil, Iván Szelényi, and Eleanor Townsley.Making Capitalism without Capitalists: Class Formation and Elite Struggles in Post-Communist Central Europe. London; New York: Verso, 1998.

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This original and readable investigation of the post-Communist societies in Eastern Europe since 1989 provides important new insights into the functioning of modern capitalism. Whilst classical social theory has devoted considerable attention to the transition from feudalism to capitalism, Making Capitalism Without Capitalists is the first book to consider the transition from socialism to capitalism.

One of the main ironies of the post-Communist states is the origin of those who have taken responsibility for the construction of capitalism. They fall into two groups. On the one hand are those who were previously Communist technocrats. On the other are former dissident intellectuals. Many in the latter group took left-wing, anti-capitalist positions under the old regimes. Now, arm in arm with former party members, they view the rapid construction of capitalism not just as economically necessary but also as morally desirable.

Eyal, Szelényi and Townsley argue that the origins of those in charge of building capitalism will significantly affect the type of system that is eventually constructed. For capitalism, they contend, is not a single terminus but a range of destinations. By identifying the unique features of capitalism built on the ruins of socialist economies, this book is a major contribution to understanding and defining these differences.