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Topic: Shock therapy economics

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Jeffrey Sachs

Shock therapy

Neoliberalism

Perestroika

Fall of Communism

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Russian oligarchs

Yegor Gaidar

Gorbachev

German reunification

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Leszek Balcerowicz

Poland

	Shock therapy - Wikipedia, the free encyclopedia
		Shock therapy is the deliberate and controlled induction of some form of physiological shock in an individual for the purpose of psychiatric treatment.
		Although once common, with advances in psychiatric drugs shock therapy is now reserved for only severe cases of depression and bipolar disorder that do not respond to talk therapy or drug-based treatment.
		Malarial fever therapy involves the inocculation of malarial protozoa into the bloodstream of patients, in order to provoke episodes of intense fever and unconsciousness, and, sometimes followed by convulsions.
	en.wikipedia.org /wiki/Shock_therapy (382 words)

	Economics
		Chicago school (economics) In economics, the Chicago school is generally associated with a philosophy of libertarianism....
		Economics in One Lesson Economics in One Lesson is an introduction to Frederic Bastiat's essay Ce qu'on voit et ce qu'on...
		Liberal theory of economics The Liberal theory of economics is the theory upheld by liberal/classical Adam Smith, and be...
	www.brainyencyclopedia.com /topics/economics.html (1451 words)

	Commanding Heights : Shock Therapy \| on PBS
		The term "shock therapy" refers to a set of radical economic reforms aimed at rapid economic stabilization, liberalization, privatization and the opening of the economy to international trade.
		Shock therapy was pioneered in Bolivia and was then carried over to Poland and Russia with varying degrees of success.
		As economic adviser to the governments of Bolivia, Poland, and Russia at the time of reform, Jeffrey Sachs believed that shock therapy was the only feasible solution in the face of these countries' deepening economic crisis.
	www.pbs.org /wgbh/commandingheights/shared/minitextlo/ufd_shocktherapy.html (377 words)

	TAP: Vol 4, Iss. 13. Beyond Shock Therapy. Alice H. Amsden. (Site not responding. Last check: 2007-10-21)
		Shock therapy will probably be pronounced a success in eastern Germany in a decade or so--but only because the German Federal Republic will have provided about a trillion dollars of subsidy.
		Whatever the economic merits or demerits of such "spontaneous" privatization, it caused intense political opposition because the resourceful managers in question were invariably the nomenklatura and acquired public property for a song.
		Thus shock therapy under the auspices of laissez faire is quite incompatible with the privatizers' goal of foreign investment.
	www.prospect.org /print/V4/13/amsden-a.html (6235 words)

	American Journal of Economics and Sociology, The: A political economy approach to the neoclassical model of transition ...
		The aim of this paper is to demonstrate that the debate between shock therapy supporters and the gradualist neoclassical economists (1) was immaterial.
		Incorporating the institutional and political structure into the transition analysis, which is consistent with a political economy approach, further highlights the contradictions of shock therapy and gradualism, reinforcing the inadequacies of neoclassical economic analysis as being politically/institutionally naked.
		The shock therapy model highlights the interdependent, mutually supportive, and interactive character of economic relationships, implying that reforms should be introduced simultaneously.
	www.findarticles.com /p/articles/mi_m0254/is_1_61/ai_84426601 (1395 words)

	Ross Mayfield's Weblog: Colonial Shock Therapy (Site not responding. Last check: 2007-10-21)
		Shock Therapy was developed by neoclassical economist Jeffery Sachs from his direct experience in Poland in 1990.
		Shock is like Spock: the needs of the many outweigh the needs of the few.
		But economics isn't everything, it came a cost devastating for some, the gap between rich and poor is extreme -- and Estonia had the luxury of fairly developed rule of law, an unwritten security guarantee from NATO and significant free trade.
	ross.typepad.com /blog/2004/10/colonial_shock_.html (1084 words)

	Shock Therapy -- Recommendations and Resources (Site not responding. Last check: 2007-10-21)
		For the 1981 sequel to The Rocky Horror Picture Show, see Shock Treatment.'' Shock therapy is the deliberate and controlled induction of some form of physiological shock in an individual for the purpose of psychiatric treatment.
		Some people consider the effects to be primarily negative, such as short-term unemployment rates ranging from 20-40%, increased crime rates and increased social tensions between the poor and the rich.
		Apparently ''"Shock to the System"'' is the name of the pilot episode of ''Static Shock'', an animated television programme.
	www.becomingapediatrician.com /health/132/shock-therapy.html (926 words)

	Encyclopedia: Shock therapy (economics) (Site not responding. Last check: 2007-10-21)
		Jeffrey Sachs Jeffrey D. Sachs (born November 5, 1954 in Detroit, Michigan) is an American economist known for his work as an economic advisor to governments in Latin America, Eastern Europe, the former Soviet Union, Asia, and Africa.
		An interesting case study in the use of shock therapy is Poland.
		The Balcerowicz Plan (Plan Balcerowicza), also termed Shock Therapy was a method espoused by Leszek Balcerowicz to transition former state controlled (i.
	www.nationmaster.com /encyclopedia/Shock-therapy-(economics) (830 words)

	Shock therapy (Site not responding. Last check: 2007-10-21)
		Shock therapy is an attempt to produce these same changes artificially.
		Metrazol shock therapy involves injecting a patient with Metrazol, a drug that quickly induces powerful seizures.
		In economics, shock therapy is a form of economic policy in which there is a sudden decontrol of prices.
	www.sciencedaily.com /encyclopedia/shock_therapy (289 words)

	Strategic Insights -- Economic Shock Therapy in Iraq (Site not responding. Last check: 2007-10-21)
		shock therapy) capable of accounting for all of the observed patterns of growth and development.[42] For example Erik Berglof and Patrick Bolton have observed that transition economies appear prone to a pattern of cumulative circular phenomena where things tend to get better or worse instead of reaching a stable equilibrium.
		Clearly, shock therapy or any other set economic agenda is not a necessary and sufficient condition for success or failure.
		In addition, to many Iraqis the failure of the neoliberal approach to deliver economically has led credence to the conspiracy theory that neoliberalism is simply a mechanism introduced to shift the country's resources out of their hands and into the control of foreign interests.
	www.ccc.nps.navy.mil /si/2004/jun/looneyJun04.asp (4771 words)

	ECONOMICS - ECON
		A survey of the economies of the Third World, and an evaluation of their policies and prospects for economic growth in light of experience since 1800 in the presently industrialized countries and in the light of various theories of growth.
		The relationship of economic principles to law and the use of economic analysisto study legal problems.
		Economics of Labor I. Prerequisite(s): ECON 701, 703, 705, and 706.
	www.upenn.edu /registrar/register/econ.html (4542 words)

	Shock therapy (economics) -- Facts, Info, and Encyclopedia article (Site not responding. Last check: 2007-10-21)
		In (The branch of social science that deals with the production and distribution and consumption of goods and services and their management) economics, shock therapy refers to the sudden release of price and currency controls, withdrawal of state subsidies, and immediate trade liberalization within a country.
		Prominent (An expert in the science of economics) economist (Click link for more info and facts about Jeffrey Sachs) Jeffrey Sachs was the foremost proponent of shock therapy for several emerging economies.
		These free-market reforms became the basis of (A liberal who subscribes to neoliberalism) neoliberal economic theory.
	www.absoluteastronomy.com /encyclopedia/s/sh/shock_therapy_(economics).htm (475 words)

	Economics
		Clearly, the economy that is emerging after two years of shock therapy and a crippling recession is very different from that of Mexico when it joined the North American Free Trade Area in January 1994.
		In June 1997, the government announced a three-year economic plan designed to speed growth, boost investment, and prevent a recurrence of the financial crises which have plagued the country at the end of each six-year government term.
		A common theme is that the Mexican economic reforms followed "the Washington consensus" – that is, policy goals of fiscal discipline, tax reform, financial liberalization, a single competitive exchange rate, liberalization of trade and foreign investment, privatization, and deregulation.
	lcweb2.loc.gov /hlas/ss57econ-looney.html (1434 words)

	Economics Interactive (Site not responding. Last check: 2007-10-21)
		Usually labor economics textbooks also summarize the empirical results of various studies which have attempted to measure the rate of return to a college education.
		Shock therapy can be the best method to stamp out these prejudices.
		In a singular effort to reverse historian Thomas Carlyle's dismal assessment of economics, I posed the problem to my students of constructing a model of the supply curve for models who might apply for the monthly centerfold position in Playboy magazine, and identifying the assumptions upon which their models were built.
	www.unc.edu /~rbyrns/PrinEcon/GI_2004/04-ResMrkt/GI-13.htm (4873 words)

	ZNet \| Activism \| Iraq's Next Shock Will be Shock Therapy
		One choice was shock therapy - quick privatization of state-owned assets and abrupt liberalization of trade, prices, and capital flows - while the other was gradual market liberalization to allow for the rule of law to be established at the same time.
		Today, there is a broad consensus that shock therapy, at least at the level of microeconomic reforms, failed, and that countries (Hungary, Poland, and Slovenia) that took the gradualist approach to privatization and the reconstruction of institutional infrastructure managed their transitions far better than those that tried to leapfrog into a laissez-faire economy.
		Indeed, shock therapy's advocates argue that its failures were due not to excessive speed - too much shock and not enough therapy - but to insufficient shock.
	www.zmag.org /content/print_article.cfm?itemID=5164§ionID=1 (926 words)

	TAP: Vol 13, Iss. 15. Shock without Therapy. James K. Galbraith. (Site not responding. Last check: 2007-10-21)
		As soon, however, as the failure of Communist economics was admitted by its former adherents, the consensus expectation in western circles swung to the opposite extreme: if the command-administrative system was such a disaster, then surely its abandonment must bring an instant improvement.
		As Arbatov summarizes: "Many of my countrymen now understand shock therapy as a conscious design to undermine Russia completely as a great power and transform her into a kind of Third World country.
		Partly as a consequence of that prudence, Chinese economic expansion continued through the Asian crisis of 1997 and the Russian collapse of 1998.
	www.prospect.org /print/V13/15/galbraith-j.html (2869 words)

	Shock therapy for Argentina: 75,000 jobs disappear in one month
		The financial shock has hit the poorest sections of the working class the hardest, particularly those forced to work in the informal sweatshop sector, where wages have dropped to less than $160 a month.
		President Eduardo Duhalde took office in January promising to replace his predecessor’s reactionary free-market economic policies with a “new model” resting on an “alliance between labor and domestic industries.” He has since turned his back on that demagogic nostalgia for the heyday of Peronism and agreed to obey the IMF.
		Under Economics Minister Jose Alfredo Martinez de Hoz, the Videla dictatorship initiated a break from the past with devastating effects on the working class.
	www.wsws.org /articles/2002/mar2002/arg-m25.shtml (1766 words)

	Economics Courses (Site not responding. Last check: 2007-10-21)
		With the approval of the Chairperson of the Economics Department, a student may be permitted to substitute up to two (2.0) credits from a related subject area as part of the ten (10.0) credits in economics presented for honors.
		Topics covered include: economic history of the region, current structure of the regional economy and state of economic development, sub-regional differences in economic structure and performance, external trade linkages, demographic and labour market characteristics, the role of government in the development process.
		This course focuses on the application of economic principles to such environmental issues as air and water pollution, preservation of wildlife and wilderness areas, and the balance between economic activity and environmental health.
	www.stmarys.ca /academic/commerce/economic/course.html (4267 words)

	List of economics topics - Encyclopedia.WorldSearch (Site not responding. Last check: 2007-10-21)
		This aims to be a complete list of the articles on economics.
		It does not include articles about economists, who are listed in the list of economists.
		Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel
	encyclopedia.worldsearch.com /list_of_economics_topics.htm (177 words)

	Shofar FTP Archives: people/l/larouche.lyndon/eir.102093
		And all of this comes together as a shock; and under the conditions of this shock, people in Congress and elsewhere are awakening and criticizing, left and right, every aspect of foreign policy.
		Thatcher, with all her intellectual limitations, did get the point, that what I had designed and what President Reagan had done, was to take the issue of the danger of a thermonuclear first strike, and to combine the technologies needed to stop that first strike with a general peace-building policy based on technological progress.
		It is the American advisers peddling shock therapy and IMF conditionalities, who pushed Yeltsin to make this coup against every elected institution and most newspapers, except the presidency, in Russia.
	www.vex.net /~nizkor/ftp.cgi/people/l/ftp.py?people/l/larouche.lyndon/eir.102093 (4108 words)

	Economics
		Moreover, the effects of Fujimori's economic and institutional policies have accelerated the process of change and modernization to the point were now the "common man" in Peru feels that he or she could also occupy Lima's Presidential Palace.
		Afterwards, under Economics Minister Carlos Boloña the country regained the confidence of the international financial community and rapidly moved towards a true market economy, liberalizing the Peruvian economy and diminishing the size and scope of the State in accordance with world trends following the fall of the Berlin Wall.
		Previously, the nation's leaders belonged to either one of two categories: the white elite of Spanish descent, from which most democratically-elected former presidents traced their lineage, or the high-ranking mestizo members of the military who usually came to power by military coup.
	lcweb2.loc.gov /hlas/ss55econ-rabinovich.html (686 words)

	Dog Inc Therapy (Site not responding. Last check: 2007-10-21)
		Many therapy dog visits require very simple skills from the dog.
		Comprehensive Pet Therapy is the most respected pet training company in the Georgia area.
		The oldest and largest therapy dog organization founded in 1976 with...
	therapy.4lb.net /dog-inc-therapy.html (236 words)

	BW Online \| September 8, 2003 \| Shock Therapy Leaves the Cuckoo's Nest
		Electroconvulsive therapy, once seen as a barbaric practice because it induces brain seizures and was sometimes used against the patient's will, has emerged from the dark ages.
		Among the other promising therapies under study are electromagnetic stimulation, which causes seizures like ECT, and vagus nerve stimulation, which involves implanting a device like a pacemaker to stimulate a nerve linked to the brain -- and which has already been approved for treating epilepsy.
		Despite the progress in shock administration, ECT is not likely to become as common as medication for treating depression.
	www.businessweek.com /magazine/content/03_36/b3848088.htm (1273 words)

	The Harvard Boys Do Russia
		After seven years of economic "reform" financed by billions of dollars in U.S. and other Western aid, subsidized loans and rescheduled debt, the majority of Russian people find themselves worse off economically.
		The privatization drive that was supposed to reap the fruits of the free market instead helped to create a system of tycoon capitalism run for the benefit of a corrupt political oligarchy that has appropriated hundreds of millions of dollars of Western aid and plundered Russia's wealth.
		Sachs teamed up with Yegor Gaidar, Yeltsin's first architect of economic reform, to promote a plan of "shock therapy" to swiftly eliminate most of the price controls and subsidies that had underpinned life for Soviet citizens for decades.
	www.thenation.com /docprint.mhtml?i=19980601&s=wedel (3037 words)

	Essays.cc - Chilean Economic Shock Therapy
		Unemployment, “soared to an average of 17.6 percent of the workforce, and hyperinflation averaged 350 percent.” (Sheahan 1997, 12) While in its inception C growth, it also exacted a tremendous toll on Chilean workers, peasants, and sections of the middle-class, worsening poverty and inequality.
		The “shock therapy” process entailed the rapid and efficient liberalization of capital markets and prices and the elimination of most restrictions on trade.
		The first two phases, lasting 17 years did promote economic growth, but without fair distribution; Chile had become a society where a large percent of the population were left without seeing the actual benefits of this “miracle”.
	www.essays.cc /free_essays/b5/lvt49.shtml (1222 words)

	Shock Therapy (Site not responding. Last check: 2007-10-21)
		Houses, computers and trees can all be replaced, given enough time and money, so it might seem logical to forgo a $1,500 investment in lightning protection in cases where the risk is relatively low.
		The real tragedy of lightning is that many people who are fatally struck could have survived.
		Most lightning deaths occur because the intense shock causes the heart to stop.
	www.motherearthnews.com /library/1989_July_August/Shock_Therapy (2739 words)

	"Shock Therapy" Restoring Order in Aceh
		Dutch efforts to incorporate Aceh into their colonial empire, starting with a military expedition in 1873, met with fierce guerrilla resistance for more than 30 years, and the area had yet to be fully "pacified" by the time the colonial regime collapsed in 1942.
		A variety of social, economic, political and religious factors have contributed to the re- emergence of widespread antipathy to central government authority in the late 1980s and to support for Aceh's independence.
		And while it is undoubtedly true that many Acehnese living in Malaysia are economic migrants, many of those who fled the areas of intensive counter-insurgency operations in 1991 and 1992 were unquestionably seeking protection and not economic advantage.
	acehnet.tripod.com /shock.htm (19198 words)

	[No title]
		In 1992, Africa was hit by the ``Drought of the Century,'' and by the calamitous effects of decades of colonialism and neo-colonialism under the IMF.
		Russia and the former Soviet Bloc are likewise reeling under IMF ``shock therapy'' economics.
		By adopting these kinds of policies, in food supplies and other crucial economic matters, the West can foster the kind of conditions under which the desirable approach to reunification of Germany can proceed on the basis a majority of Germans on both sides of the Wall desire it should.
	www.etext.org /Politics/LaRouche/larouche.program.16 (2326 words)

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