More forgottten history, when the US was all about “shock therapy” for those dumb Russkies: “Shock therapy, which involved the quick-and-dirty demolition of the old system before a new one had been built, was launched in early 1989 with the editorial support of The New York Times. Mr. Aslund now writes a definitive ‘proof’ that the policy succeeded, except that it would have succeeded more if there had been more shock — defined as ‘a rapid reduction in the budget deficit.’ The Times, in turn, assigns the book to Mr. Lloyd, who celebrated the Aslund-Sachs ‘shock therapy’ during his tenure as Moscow bureau chief of The Financial Times of London.”
(NYT)