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This century has been marked by events that history may well record as turning points for mankind. Two world wars, the creation and use of weapons of mass destruction, the landing of men on the moon, and the technological revolution that ensued have triggered momentous changes in world society. No less dramatic and undoubtedly as far-reaching in effect are the events that are now underway in the former Soviet Union-now the Commonwealth of Independent States ("CIS"). Perestroika (restructuring), glasnost (openness), a failed coup,1 the rejection of the communist party and the splintering of the Soviet republics have gripped the attention of the world.2 Those events were preceded by a "cold war" that was fueled in no small measure by the issue of whether Soviet state planning was preferable to the market economies of Western countries, particularly the United States. Clearly, the market economy has emerged as the preferred order, despite its inequalities and harshness to those who are unable or unwilling to compete.

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Commodity Exchanges and the Privatization of the Agricultural Sector in the Commonwealth of Independent States: Needed Steps in Creating a Market Economy