The document discusses economic changes in Russia, Sweden, and Latin America as they move toward market systems. It notes that Russia privatized its economy after the fall of the Soviet Union, which led to challenges like high unemployment as workers lost jobs. Sweden began reducing taxes and public jobs in the 1990s while cutting regulations and allowing more foreign ownership, moving its economy toward privatization and free markets. Latin America has also recently privatized many of its state-owned enterprises.

1. Nations move toward
the Market System
Chapter 19

2. Learning Goals
 Explain the changes in Russia due to privatization.
 Trace the changes in Sweden’s economic system.
 Identify the recent changes in Latin America’s
economy.

3. Create a diagram like the one below to list and explain
how Russia’s economy has changed since privatization
Challenges
of
Privatization

4. How has the Swedish
economy been changing?

5. What changes have occurred recently
in Latin America?

6. Critical Thinking
 Explain some of the advantages and disadvantages of
living in Sweden prior to reforms that began in the
1990s.

7. Resistance
to
privatization
Very high
High prices
taxes
Challenges
of
Privatization
No faith in
Workers
currency
may finds
leads to
themselves
barter
w/out jobs
system

8. How has the Swedish
economy been changing?
 Began to cut taxes & elimate some public jobs
 Eased regulations on businesses and approved foreign
ownership of some companies
 Government ended its monopoly in some industries
 Plans to move toward a market economy in the future

9. What changes have occurred
recently in Latin America?
 Economies have privatized many government
enterprises in recent years