Shock Therapy and its Consequences in Transition Economies
As a contribution the Dialogue section of Development critiques of mainstream economics John Marangos looks at how shock therapies applied to transition economies in Central, Eastern Europe and the former Soviet Union were economic experiments that went disastrously wrong. They produced suffering, low growth, inflation, unemployment, corruption and crime. He suggests that there were economic, political and ideological reasons for this as the same class that controlled affairs under Stalinism were joined by the multinational capitalist class in the promotion of a ‘free’ world of a globalized economy with very few benefits to the majority of those bearing the ‘shocks’. Development (2005) 48, 70–78. doi:10.1057/palgrave.development.1100136
Volume (Year): 48 (2005)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/|
|Order Information:||Web: http://www.springer.com/social+sciences/journal/41301/PS2|
When requesting a correction, please mention this item's handle: RePEc:pal:develp:v:48:y:2005:i:2:p:70-78. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.