Countries such as Russia and Sweden overhauled their socialist economies in the early 1980s,transforming them to laissez-faire capitalism.

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This statement is false. Both Russia and Sweden implemented economic reforms in the 1980s, but neither transformed to a laissez-faire capitalist system. Russia implemented privatization and market-oriented reforms, but the government continues to play a significant role in the economy. Sweden also implemented market-oriented reforms, but maintains a strong welfare state and government regulation of certain industries.

Countries Such as Russia and Sweden Overhauled Their Socialist Economies