delphiandomine
10 Jul 2011
News / Did George Soros want to destroy Poland with his economic shock therapy? [87]
Correct. However, experience shows us that they simply didn't have the ability - many State owned factories, run by Solidarność management failed miserably in the free market.
Privatisation was also the only way out - Poland needed hard cash, and simply didn't have the money anymore to sustain the system. The country was more or less hovering on bankruptcy - how could they afford to keep the factories while giving the people what they wanted? It just wouldn't have worked.
Tell me, given the dire economic crisis that Poland was in - what would you have done differently?
I've still never heard a clear "alternative" answer for what happened - look at the ex-Communist countries of Europe that are now in the EU - none of them are significantly better off than Poland, despite different methods used. Slovenia is, but they started from a far better base (it was the wealthiest Yugoslav Republic and Yugoslavia was far wealthier than Poland). The rest? About the same level.
The ultra-capitalist approach that was adopted was by far the best one - it gave Poland a clear platform to move on, and while the short term pain was bad - in the long term, Poland is prospering.
People in p]Poland did not want to privatize they wanted to keep it and run the businesses as co-owners.
Correct. However, experience shows us that they simply didn't have the ability - many State owned factories, run by Solidarność management failed miserably in the free market.
Privatisation was also the only way out - Poland needed hard cash, and simply didn't have the money anymore to sustain the system. The country was more or less hovering on bankruptcy - how could they afford to keep the factories while giving the people what they wanted? It just wouldn't have worked.
Tell me, given the dire economic crisis that Poland was in - what would you have done differently?
I've still never heard a clear "alternative" answer for what happened - look at the ex-Communist countries of Europe that are now in the EU - none of them are significantly better off than Poland, despite different methods used. Slovenia is, but they started from a far better base (it was the wealthiest Yugoslav Republic and Yugoslavia was far wealthier than Poland). The rest? About the same level.
The ultra-capitalist approach that was adopted was by far the best one - it gave Poland a clear platform to move on, and while the short term pain was bad - in the long term, Poland is prospering.