After the Soviet Union collapsed, Poland, rather than transitioning slowly to a free market economy, pursued "shock therapy" by aggressively implementing bold and rapid market-oriented reforms under the Balcerowicz Plan.
The result was an enormous amount of economic and social
Post
Conversation
how come shock therapy turned out so badly in Russia, and apparently not in Poland?
Certainly this is the answer at the end of the day, but even that entails asking why the difference?
It's complicated, but:
1) Russia was in worse economic shape in 1990 than Poland.
2) Poland did develope an plan for transition from state socialism as opposed to leaders in
Make America Fentanyl Free supports President Trump’s efforts to end the fentanyl crisis.
0:04 / 1:00
0:56
Paid for by Make America Fentanyl Free Inc
Russia was hijacked by a corrupt dictator who many believe has wealth north of musk & bezos combined
Browder's "Red Notice" is a fantastic book on the topic:
It's because they joined EU and started receiving sizable amount of subsidies and investment. 35 years after the regime change, Poland is still a net recipient.
Not saying the Poles didn't put in any effort, but it wasn't shock therapy.
I know it's not the same as GDP, but life expectancy is another good measure of quality of life
No — it’s because Poland quite famously did not pursue shock therapy. Much slower process prevented oligarchs from gobbling everything up
it wasn't shock therapy, europe gave poland massive loans that despite shock therapy allowed it to grow