This episode of The Dig is brought to you by our listeners who support us at patreon.com

and by verso books which has loads of great left-wing titles, perfect for dig listeners like you.

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The Last Man Takes LSD, Foucault and the End of the Revolution by Mitchell Dean and Daniel Zamora

out now from Verso Books.

Welcome to the Dig, a podcast from Jacobin Magazine. My name is Daniel Denver and I'm broadcasting

from Providence, Rhode Island. China's economic boom is a powerful indictment of

neoliberal orthodoxy because its rejection of neoliberal orthodoxy is what made China's

heterodox form of state-directed capitalism possible. My guest today is economist Isabella

Weber, the author of How China Escaped Shock Therapy, a book that answers just that question.

As China transitioned to capitalism in the 1980s, the neoliberal prescription was for shock therapy,

rapid price liberalization, austerity, free trade and privatization. The neoliberal consensus

of course did not produce great results around the world. During neoliberalism's heyday,

Latin America and Africa were devastated. Infamously, Russia's implementation of shock therapy

...