On August 24th, 1991 Ukraine declared its independence from and dissolution of formal ties with the USSR. Ukraine was supposed to be entering a new era of independent rule, democratic governance and a vibrant free market economy. However, this optimistic vision quickly proved to be a mirage. Between 1991 and 1999, Ukraine’s GDP PPP per … Continue reading "Socialism Without a Plan, Capitalism Without Markets: Ukraine’s Economic Collapse in the 1990s"