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The objective of the paper is to survey the state of knowledge of economists and agriculturaleconomists at the onset of transition and seventeen years later. The "standard" economicreasoning in the early nineties were based on neoclassical economics and documented was hasbeen termed the Washington Consensus. It is shown that the discrepancy between expectationsand reality as well as the evolution of institutional economics has challenged economists. A "blueprint" favoured in the early nineties seems to be opposed by many economist nowadays.Agricultural economists have been influenced by the lines of thought in the main profession, butthere approach became country-specific in early years of the transition period. Nevertheless, thereare some open questions concerning assessment and approach in giving policy advice.
