--- Doug Henwood <dhenwood at panix.com> wrote:
> If it had been done right, it didn't have to be any
> more of a
> disaster than capitalism normally is - as in China,
> where the
> authorities have remained in masterful control of
> the process.
> (That's not to say it's been pretty or human - it
> hasn't been.) But
> the Russian privatization was stupid as well as
> brutal, and threw
> scores of millions into poverty. And the reaction to
> that poverty
> wasn't any kind of left upsurge, either - it was
> more like detachment
> and despair.
>
> Doug
BTW does/did Sachs endorse the Gaidar strategy of freeing prices before breaking up the monopolies 9n 1992? That was pretty fucking stupid. If the ensuing hyperinflation had not wiped out people's savings, amiddle class might have started forming in Russia in the early 1990s instead of the early 2000s.
===== Nu, zayats, pogodi!
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