Moving from socialism to capitalism as fast as possible is known as shock therapy.

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Quizplus · Accepted Answer

This statement is true. Shock therapy refers to the rapid implementation of market-oriented economic policies, including liberalization, privatization, and deregulation, to transition from a socialist or command economy to a capitalist economy. This approach was commonly used in Eastern Europe and the former Soviet Union in the 1990s.

Moving from Socialism to Capitalism as Fast as Possible Is