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SHOCK THERPY

 Discuss the consequence of Shock Therapy.

Ans: The widrawl of subsides by the government created greater challenges for ordinary people in these countries.A large section was pushed into absolute poverty.

While these states gave importance to the economic reconstruction,the same importance was not given to rebuilding as well as strengthening of democratic institutions.Constitutions of new countries were drafted in a hurry and it led to concentration of power.

One of the major consequences of this policy was that it led to the virtual disappearance of large industries from Russia and other east European countries.The individuals system collapsed and 90 percent of such industries were sold to private industrials and companies.

The economics of the newly independent countries were being controlled by major and smugglers.Farmer Soviet States became divided into rich and poor nations and the entire region suffered from economic inequality.

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