David Ellerman — Neoclassical Economics as the New Social Engineering

This is a preprint of a paper on the role of neoclassical economics in the disastrous “Big Bang” or “shock therapy” advice given by Western academics and Western advisory agencies (World Bank, IMF, USAID,…) to the post-socialist countries. The paper is published as: Ellerman, David. 2016. “Neoclassical Economics as the New Social Engineering: The Debacle of the Russian Post-Socialist Transition.” In The Oxford Handbook of Professional Economic Ethics, edited by George F. DeMartino and Deirdre N. McCloskey, 520–33. New York: Oxford Univeristy Press.

Click here to download the preprint.

How"the Harvard boyz" and international institutions almost destroyed the countries of the former USSR with their "expert advice."  

Russia was on the ropes being pummeled by mafiosi until Marshall Putin rode into town and established new rules. The West has never forgiven him for shutting down the table.

Neoclassical Economics as the New Social Engineering

David Ellerman