Russian Economic Problems

From the Paper:

"Introduction
In a recent essay on the dramatic economic difficulties facing the former Soviet Union, Alexander Yakovlev, an intellectual architect of Gorbachev's Perestroika reform program, stated that "By placing Marxist-Leninist theory above reality, above life, we managed to cripple life itself. By embracing the views of Friedrich von Hayek and Milton Friedman without making any adjustments for Russian realities, we risk falling into the trap of imposing on Russian life programs that, although inherently sensible, may not be suited to Russian exigencies."[1]
This paragraph succinctly summarizes the debate now exploding across Russia as to the appropriate strategy and direction of economic reform. On the one side are the proponents of "shock therapy," often associated by its critics with a missionary..."

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