Extreme Free-Market “Shock Therapy” in Postcommunist Eastern Europe Was a Disaster

With the rise of the nationalist right, liberal intellectuals in Central Eastern Europe have started to revisit self-critically the postcommunist transformation strategies of the 1990s. “We were stupid,” was the blunt conclusion of the late Polish philosopher Marcin Król. Król’s thesis was that the liberal strategists neglected the social consequences of transformation. In his view, […]