Rx For Russia: Shock Therapy

Why? Because, says Jeffrey Sachs, you can't cross a chasm in two jumps

The lines outside food stores in Russia grow longer and longer, and the people standing in them grow angrier and angrier. Two weeks after the Russian government ended price controls on most products, the economic reforms of Russian President Boris Yeltsin are under heavy attack. Last week 50,000 people crowded into Moscow's Manezh Square to protest price increases and call for Yeltsin's resignation.

< The chanting was directed at the Russian President, but the man behind the program is little known to the demonstrators. He is Jeffrey Sachs, 37, a Harvard professor who in the past seven years has emerged as...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!