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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (126430)	12/18/2016 4:04:18 AM
From: koan	Read Replies (1) \| Respond to of 217547

sras.org To understand how the doctors attempted to assist Russia, we must first understand the theoretical model from which they operated. The term "Shock Therapy" was an invention of the media and a modification of Milton Friedman's phrase "Shock Policy." Jeffrey Sachs (2000), a professor of economics at Harvard, argues that Ludwig Erhard's quick liberalization of price controls and government spending cuts in 1947-48 West Germany served as an inspiration for the shock therapy model.[1] Yet shock therapy, as it is now known, was first pioneered in Chile in 1975 by the "Chicago Boys"[2] following Augusto Pinochet's coup and then in Bolivia in 1985 under Gonzalo Sanchez de Lozada. Soon after, Eastern European countries followed suit: Poland in 1990, Czechoslovakia and Bulgaria in 1991, Russia, Albania, and Estonia in 1992, and finally Latvia in 1993 (Marangos 2004).