1 – Prologue
2 – The Ghosts of Norilsk 3.52
much of world based economy on central planning; industrialized in one generation;
Norilsk plant symbolized Soviet industry; started as prison camp; millions rode slow
train to prison; checked out wrong book in public library; trial lasted ten minutes;
slave labor, crucial component of Soviet economy; enemies of the people;
3 – Behind the Iron Façade 8.16
truth about the Soviet economy; sealed from outside world; Russian double-agent;
to penetrate secrecy; KGB became suspicious, put him under arrest; he knew the
system from the inside; evaded KGB, made his way to Finland forest border; KGB
checkpoint; Gordievski in London; important foundation – economy; under great
stress; more than a third of economy devoted to military; at least 50%;
Soviet military might rested on a crumbling economy; claim success, deceiving
the world; the real story … an empty shell … standard of living a fraction of western; a
mess; why worker’s in state mines unwilling to work; no incentive; you can do two
things – gun to head like in Stalinist times or give him incentives; factory managers
saw the factory was not working because they saw the workers were not working;
the collapse of a great empire
4 – India’s Permit Raj 16.32
like the Soviets, centralized planning; controlled everything in the private sector;
everything needed a government permit; red tape and bureaucracy; businessmen
found it impossible to get anything done; impossible to work in system … so work
around it; bribes … corruption; no competition; shoddy goods, high prices; growth
crippled; 15 years to get a car; Hindustan Ambassador cars; 18,000 sold; same
design; over protected, over administered, over managed
5 – Latin America Dependencia 19.36
6 – Counterrevolution in Chile 21.38
economy in trouble; Allende elected; more government; Allende overthrown;
7 – Chicago Boys and Pinochet 25.08
exchange students, absorbing Chicago School; minimal govt.; free market;
8 – Heresy in the U.S.S.R. 33.23
people started to question the system; not talked about in public; not Marxism but
markets; some illness; tried to discuss with professors; you are crazy; I read books
by Hayek and Friedman; Gorbachev appalled by the economic decay; launch
Sputnik but not women’s panty hose; basic necessities; Perestroika; restructuring;
reform; 7 generations with no experience with markets; started to allow some
private enterprise; removed controls of central planning without replacing them;
Reagan and Thatcher; Reagan speech – march of freedom and democracy, stifled
freedom and self-expression; Thatcher and Gorbachev; market economy runs itself;
1987 – Reagan, Berlin Wall; if you seek peace … prosperity … Mr. Gorbachev …
open this gate … tear down this wall;
9 – Poland’s Solidarity 41.31
10 – Bolivia on the Brink 49.02
11 – Shock Therapy Applied 56.11
12 – The Miracle Year 1:00.58
Economist Sachs works in Poland;
13 – Poland in Transition 1:07.42
reforming state industries; much tougher task; old industries inherited from
Communist past; overmanned efficient and profitable meant lay-offs
14 – Gorbachev tries China 1:10.24
feeling this was a disaster
15 – Soviet Free Fall 1:17.45
August, 1991 coup attempt
16 – Reform Goes Awry 1:22.38
New Year’s Eve, 1991, price controls freed; end of everything the communists
had stood for;
17 – India Escapes Collapse 1:27.00
adopts free market;
18 – Russia Tries to Privatize 1:30.17
19 – Loans for Shares 1:35.49
20 – Closing the Deal 1:42.10
goal to create business class; prevent communists from coming back; oligarchs
backed Yeltsin’s campaign; his victory;
21 – A Decade of Radical Change 1:45.48
start of new millennium, new world … looked to market; as though whole world
changed it’s mind; governments have retreated from the Commanding Heights ;
Poland; Poland has flourished; small businesses started after economic reform;
Argentina – final collapse; Russia – oligarchs reigned in; MY SON DOES NOT
KNOW WHAT COMMUNISM IS ; CAPITALISM NOW THE RULE; ERA of
GLOBALIZATION HAD BEGUN
END 1:53.3X