Why did Shock Therapy fail so badly?
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Accepted answer
- There were no goods in shop in Dec 91. And there were many different kinds in Feb 92. It worked. THAT was a target and it was reached. Quickly.
- Nomenclature is a party term and existed practically before the revolution of 1917. It meant important party members. Later it meant party members that were sometimes on important positions. As party was not a ruler anymore in 1992, it ceased to be, not appeared.
- Billionaires appeared before 1992. Only they did not expose themselves. To become oligarchs, they had to get power. It is the common definition of oligarchs - one of few who has power. Yes, in Russia that group consisted mostly of billionaires, but it was later.
Why the whole period of reforms failed? As usually in Russia, reforms came too late.
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Source: stackoverflow.com
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