WHAT IS SHOCK THERAPY - WHAT DID IT DO IN POLAND AND RUSSIA

A prominent theorist of Soviet and East European economics critiques t he vision of political and economic processes implicit in shock therap y, defending an alternative, evolutionary approach. The critique of sh ock therapy rests on both theoretical reasoning and examination of evi dence from recent cases, An intensive study of economic change in Pola nd and Russia since the late-1980s concludes that, in both countries, shock therapy failed in its goal of implementing top-down reforms that by-pass existing political and social forces. The evolutionary approa ch, it is argued, holds the better prospect of generating economic pro gress that will be sustained over the long term.