How do we think about the shock therapy approach to economics?

Encyclopedia of Opinion

Question: How do we think about the shock therapy approach to economics?
Position1 of 2›: Shock therapy works

The case that shock therapy works: that the measures of a market economy function only as a set, that part-reform leaves the old incentives in place, and that speed protects the programme from being hollowed out by those it costs.

Supporting arguments · 2

Partial liberalisation leaves the incentives of the old system intact
The political window in which losses can be imposed is narrow