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Was shock therapy is the best …

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Was shock therapy is the best way to make a transition from communism to capitalism?

Posted by Komal Meena 5 years, 1 month ago

CBSE > Class 12 > Political Science

1 answers

Vaishnavi Srivastava 5 years, 1 month ago

No,this is not a best way to make a transition from communism to capitalism due to following reasons: (1) It brought ruin to the economies and disaster upon the people of the entire region . (2) In Russia ,the large state controlled industrial complex almost collapsed .There was the largest garage sale in history, as valuable industries were undervalued and sold at throw away prices. (3) The value of ruble - the Russian currency declined. (4) People lost all their savings due to high rate of inflation. (5) The old trading structure broke down with no alternative in its place.

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