Title: Southern Europe
Content:  themselves. The countries in the Soviet sphere of influence joined the military alliance known as the Warsaw Pact and the economic bloc called Comecon. Yugoslavia was neutral. The common attribute of the eastern countries is that all of them have experiences about socialism, but nevertheless, the beginning of the 1990s was just roughly the same. For some of them becoming independent was the major challenge, while others needed to face with poverty and deep dictatorship also Economically, parallel with the political changes, and the democratic transition, – as a rule of law states – the previous command economies were transformed via the legislation into market economies, and set up or renewed the major macroeconomic factors: budgetary rules, national audit, national currency, central bank. Generally, they shortly encountered the following problems: high 
Title: Chinese economic reform
Content:  China's transition from a planned economy to a socialist market economy has often been compared with economies in Eastern Europe that are undergoing a similar transition. China's performance has been praised for avoiding the major shocks and inflation that plagued the Eastern Bloc. The Eastern bloc economies saw declines of 13% to 65% in GDP at the beginning of reforms, while Chinese growth has been very strong since the beginning of reform. China also managed to avoid the hyperinflation of 200 to 1,000% that Eastern Europe experienced. This success is attributed to the gradualist and decentralized approach of the Chinese government, which allowed market institutions to develop to the point where they could replace state planning. This contrasts with the "big bang" approach of Eastern Europe, where the state-owned sector was rapidly privatized with employee buyouts, but retained much 
Title: Economy of Hungary
Content:  After the fall of communism, the former Eastern Bloc had to transition from a one-party, centrally planned economy to a market economy with a multi-party political system. With the collapse of the Soviet Union, the Eastern Bloc countries suffered a significant loss in both markets for goods, and subsidizing from the Soviet Union. Hungary, for example, "lost nearly 70% of its export markets in Eastern and Central Europe." The loss of external markets in Hungary left "800,000 unemployed people because all the unprofitable and unsalvageable factories had been closed." Another form of Soviet subsidizing that greatly affected Hungary after the fall 
Title: Post-communism
Content:  Several Communist states had undergone economic reforms from a planned economy towards a more market-oriented economy in the 1980s, notably Hungary, Poland, and Yugoslavia. The post-communist economic transition was much more abrupt and aimed at creating fully capitalist economies. All the countries concerned have abandoned the traditional tools of Communist economic control and moved more or less successfully toward free-market systems. Although some, such as Charles Paul Lewis, stress the beneficial effect of multinational investment, the reforms also had important negative consequences that are still unfolding. Average standards of living registered a catastrophic fall in the early 1990s in many parts of the former Comecon—most notably in the former Soviet Union—and 
Title: Cold War (1985–1991)
Content:  Countries such as the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, and Slovakia experienced economic reconstruction, growth and fast integration with EU and NATO while some of their eastern neighbors created hybrids of free market oligarchy system, post-communist corrupted administration and dictatorship. Russia and some other Soviet successor states faced a chaotic and harsh transition from a command economy to free market capitalism following the dissolution of the Soviet Union. A large percentage of the population lived in poverty, GDP growth declined, and life expectancy dropped sharply. Living conditions also declined in some other parts of the former Eastern bloc.  The post–Cold War era saw a period of unprecedented prosperity in the West, especially in the United States, and a wave of democratization throughout Latin America, Africa, and Central, South-East and Eastern Europe. Sociologist Immanuel Wallerstein expresses a less triumphalist view, arguing that the end of the Cold 
Title: Socialist economics
Content:  After the dissolution of the Soviet Union and the Eastern Bloc, many of the remaining socialist states presiding over centrally planned economies began introducing reforms that shifted their economies away from centralized planning. In Central and Eastern Europe and the USSR the transition from a planned economy to a market economy was accompanied by the transformation of the socialist mode of production to a capitalist mode of production. In Asia (China, Laos, North Korea and Vietnam) and in Cuba market mechanisms were introduced by the ruling communist parties and the planning system was reformed without systemic transformation. The transformation from socialism to capitalism 
Title: Transition economy
Content:  A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. Transition economies undergo a set of structural transformations intended to develop market-based institutions. These include economic liberalization, where prices are set by market forces rather than by a central planning organization. In addition to this trade barriers are removed, there is a push to privatize state-owned enterprises and resources, state and collectively run enterprises are restructured as businesses, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital. The process has been applied in China, the former Soviet Union and Eastern bloc 
Title: Transition economy
Content:  in much of Central and Eastern Europe. Some economists have argued that the growth performance of the transition economies stemmed from the low level of development, decades of trade isolation and distortions in the socialist planned economies. They have emphasized that the transition strategies adopted reflected the need to resolve the economic crisis besetting the socialist planned economies and the overriding objective was the transformation to capitalist market economies rather than the fostering of economic growth and welfare. But by 2000, the EBRD was reporting that the effects of the initial starting point in each transition economy on the reform process had faded. Although the 
Title: Economy of Europe
Content:  When the 'Eastern Bloc' dissolved around 1992, these states struggled to adapt to free-market systems. There was, however, a huge variation in degrees of success, with Central European states such as the Czech Republic, Hungary, Slovakia, Slovenia and Poland adapting reasonably quickly, whilst states that used to form the USSR such as Russia, Belarus and Ukraine struggled to reform their crumbling infrastructures. Many developed European countries were quick to develop economic ties with fellow European states, where democracy was reintroduced. After the Revolutions of 1989, states in Central Europe and the Baltic states dealt with change, former Yugoslavian republics descended into war and Russia, Ukraine and Belarus are still struggling with their old systems. Europe's largest economy, Germany, struggled upon unification in 1991 with former communist 
Title: Velvet Revolution
Content:  between the Czechs and the Slovaks, which resurfaced in the post-Communist period. However, there was a general consensus to move toward a market economy, so in early 1990, the President and his top economic advisers decided to liberalise prices, push de-monopolisation and privatise the economy. The end of Communism meant the end of life-long employment, and a subsequent increase in unemployment. To combat this, the government implemented unemployment benefits and a minimum wage. The outcome of the transition to democracy and a market economy would depend on the extent to which developments outside the country facilitated or hindered the process of change.

Question: what was the initial effect of the transition from command to market economies in eastern europe?
Answer: Inequality of opportunity.