16. The economist Thomas E. Weisskopf states: The outlook for revitalization of Russias economy is bleak. Only

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16. The economist Thomas E. Weisskopf states: “The outlook for revitalization of Russia’s economy is bleak. Only an alternative to shock therapy can assure that the Russian economy will be successfully restructured and revitalized. ... It would ...require a much larger role for government in shaping the social and economic environment than radical free marketeers are willing to contemplate.

Such an alternative approach would be more likely to obtain democratic support than shock therapy and therefore the Russian government would be more likely to implement it successfully.” Discuss and evaluate this view.

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Economic Development

ISBN: 978-0521829663

4th Edition

Authors: E Wayne Nafziger

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