Authored by Jeffrey Sachs and Matt Taibbi via Racket News,
Editor’s note: thanks in large part to Ryan Grim, whose new “Drop Site” Substack can be found here, I rarely recommend subscribing to other sites, but am happy to support Drop Site, which Ryan co-founded with Jeremy Scahill and other Intercept veterans — an Intercept-in-exile. Through them I had an opportunity to interview economist Jeffrey Sachs, and read the eye-opening essay below. In a moment you’ll receive a companion piece that explains what was stunning to me, as a resident of Russia when “Shock Therapy” economic policies credited to Sachs were being applied. Below, Sachs reveals: we never even tried to end the Cold War.
How the Neocons Subverted Russia’s Financial Stabilization in the Early 1990s
by Jeffrey Sachs
In 1989 I served as an advisor to the first post-communist government of Poland, and helped to devise a strategy of financial stabilization and economic transformation. My recommendations in 1989 called for large-scale Western financial support for Poland’s economy in order to prevent a runaway inflation, enable a convertible…
Read the full article here