EconNerds: Russia had more Resources, Poland Won Anyway

Econ Nerds is a digital media channel of the Mercatus Center, focused on illuminating the economics in the world around us through fun, contemporary media.

How did Poland go from communist central planning to one of Europe’s fastest-growing economies? In this episode of Econ Nerds, we explore the post-Soviet "shock therapy" reforms, the Washington Consensus, and the economic policies that helped transform Poland from one of Europe's poorer countries into one that may soon be better off than the United Kingdom (arguably). After the collapse of the Soviet Union, countries across Eastern Europe received the same economic advice from the West: privatize state industries, end price controls, stabilize currencies, and open to international trade. Most of them tried to follow that advice. Some countries prospered as a result, but others fell into corruption and stagnation. Why?

NODEHAUS handled the post-production for this piece — from ingesting, editing, motion-graphics animation, sound and color.

• Credits

  Client: EconNerds, Mercatus Center

  Production Co: NODEHAUS

  Writer & Host: Matt Hill

  Producer, Editing Manager: Roman Hardgrave

  Editor: Triston Centretto

  Graphics: Triston Centretto, Brandon McDowell