Question

who directed the model of shock therapy?​

Answer 1

Explanation:

In economics, shock therapy is the sudden release of price and currency controls (economic liberalization), withdrawal of state subsidies, and immediate trade liberalization within a country, usually also including large-scale privatization of previously public-owned assets.

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Answer 2

Answer:

In economics, shock therapy is the sudden release of price and currency controls (economic liberalization), withdrawal of state subsidies, and immediate trade liberalization within a country, usually also including large-scale privatization of previously public-owned assets.

Characteristics of shock therapy include the ending of price controls, the privatization of publicly-owned entities, and trade liberalization. The opposite of shock therapy, gradualism, indicates a slow and steady transition from a controlled economy to an open economy.

The term was popularized by Naomi Klein. In her 2007 book The Shock Doctrine, she argues that neoliberal free market policies (as advocated by the economist Milton Friedman) have risen to prominence in some developed countries because of a deliberate strategy of "shock therapy". Johan Norberg of the Cato Institute criticized the book, saying that the concept of shock therapy is falsely attributed to Friedman. According to Norberg, Friedman's quote ("Only a crisis—actual or perceived—produces real change") is taken out of context and misinterpreted.[1]