Reaction Paper Movie Review Example | Topics and Well Written Essays - 500 words

Reaction Paper - ikon Review ExampleThe movie explores how world economies failed and the new ideas that were embraced to carry out the shock therapies. absolute majority of these countries subsequently embraced the release market capitalism. Russia, Poland, India, Chile and Bolivia had to survive by means of the rapid changes and had to deal with the new freedom and the dangers associated with deregulating and privatization.After the Russian revolution, the socialist economy in the country faced a major crisis with the leading responding by coming up with programs that allowed limited capitalistic activities (Cran & Yergin, 2002). The economy began to improve but by the 1980s, it was in shambles again mainly due to lack of incentives. The country made attempts to free the market through privatization, but due to lack of clear guidelines and goodwill, the denationalization was done in an unequal manner, further pain in the ass the economy.Agony of Reforms also looks at the ec onomic practices that were witnessed in Latin America in the 20th Century. Majority of the countries in this region relied on the dependency theory that supported industrialization by reducing the metre of manufactured goods that were getting in. This was done by subsidizing the locally manufactured commodities. The counties were, therefore, using a Marxist climax to grow their economies and the impact of this was that the local industries lacked the much needed competition to be innovative and efficient. The failure of the represent polices became evident in the 1980s when the nations started losing investments from the few foreigners (Cran & Yergin, 2002). Chile at the time became an experiment in the free market and its leaders called for the evaluation of the free market economic reforms that had been put in place. However, due to the disdainful regimes, the free market idea was associated with fascism. The country strived to deregulate the market with majority of the reform s implemented becoming a success