The transition from communism to capitalism …

Shock Therapy was a painful process of transition from an authoritarian socialist system to a democratic capitalist system. This transformation system was influenced by the world bank and the IMF in Russia, Central Asia and East Europe. Though the term "communism" can refer to specific political parties, at its core, communism is an ideology of economic equality through the elimination of private property. The beliefs of communism, most famously expressed by Karl Marx, center on the idea that inequality and suffering result from capitalism. A sudden and dramatic change in national economic policy that turns a state-controlled economy into a free-market one. Characteristics of shock therapy include the ending of price controls, the privatization of publicly-owned entities and trade liberalization.