Yeltsin oversaw economic shock therapy from "summary" of A People's Tragedy by Orlando Figes
Yeltsin, determined to push through market reforms, oversaw a radical program of economic shock therapy. This involved the abrupt introduction of free-market policies, such as price liberalization and privatization, in an attempt to rapidly transition Russia from a centrally planned economy to a market economy. The idea was to create a shock to the system that would break with the past and allow for a rapid transformation of the economy. Yeltsin's economic shock therapy was met with significant resistance and hardship. Prices soared, leading to hyperinflation and a sharp decline in living standards for ...
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