The Harm Done by Economists
Economic Update with Richard D. Wolff
00:00
What Was Shock Therapy?
Shock therapy was an approach to policy reform in the former Soviet Union countries. The research that's been done since indicates that this was devastating. In percentage terms, we're talking larger than the deaths from wars and pandemics. We're talking about a massive loss of life. I would argue it didn't have to happen. It was brought about by an immense historical mistake.
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