If a country as powerful as the United States in 1945 still needed to win friends and influence people, today’s America certainly must do so. Shock therapy for multilateralism will bring ...

A newly declassified analysis argued against “shock therapy” for the former Soviet Union. The warning wasn’t heeded.

The feebleness of recent multilateral efforts reflects a deeper intellectual and political fragmentation that might seem to play into the hands of an incoming “America First” administration. But ...

Shock therapy was pioneered in Bolivia and was then ... chief significance of Bolivia's reform in showing the rest of Latin America that hyperinflation could be successfully conquered in a democracy.