Describe any four consequences of Shock Therapy'. - Vidyadip

Question

Describe any four consequences of Shock Therapy'.

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Answer

The two consequences of ‘Shock Therapy’:

In Russia, the large state-controlled Industrial complex almost collapsed, as about 90 percent of its industries were put up for sale to private individuals and companies.
The value of the ruble the Russian currency declined. The rate of inflation was so high that people lost all their savings.
The Russian old system of social welfare was systematically destroyed and the withdrawal of government subsidies pushed large sections of the people into poverty.
Post-Soviet states, especially Russia, were divided between rich and poor regions resulting into great economic inequality

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