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The Economist
March 17, 2001

No other way. (Excerpt)

"This book [Peter Reddaway and Dmitri Glinski, The Tragedy of Russia's Reforms] is the latest, and weightiest, contribution to a burgeoning literature of blame from America. It follows Janine Wedel's "Collision and Collusion" (1998), Stephen Cohen's "Failed Crusade" (2000) and numerous essays, the most powerful of which came in 1999 from Joseph Stiglitz, then chief economist of the World Bank, who argued that what the reformers had done was to create "incentives for asset stripping", not for productive capitalism. The outrage of this school over the imposition of a shock therapy perceived as cruelly inappropriate is so pronounced that many of its members have no hesitation in coupling reforms aimed at democratising and marketising Russia as equivalent in their evil effects to the imposition and rule of communism on the Soviet Union."

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