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Books > History > History of specific subjects > Economic history
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Taking Stock of Shock - Social Consequences of the 1989 Revolutions (Hardcover)
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Taking Stock of Shock - Social Consequences of the 1989 Revolutions (Hardcover)
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Kristen Ghodsee and Mitchell A. Orenstein blend empirical data with
lived experiences to produce a robust picture of who won and who
lost in post-communist transition, contextualizing the rise of
populism in Eastern Europe. After the fall of the Berlin Wall in
1989, more than 400 million people suddenly found themselves in a
new reality, a dramatic transition from state socialist and
centrally planned workers' states to liberal democracy (in most
cases) and free markets. Thirty years later, postsocialist citizens
remain sharply divided on the legacies of transition. Was it a
success that produced great progress after a short recession, or a
socio-economic catastrophe foisted on the East by Western
capitalists? Taking Stock of Shock aims to uncover the truth using
a unique, interdisciplinary investigation into the social
consequences of transition-including the rise of authoritarian
populism and xenophobia. Showing that economic, demographic,
sociological, political scientific, and ethnographic research
produce contradictory results based on different disciplinary
methods and data, Kristen Ghodsee and Mitchell Orenstein
triangulate the results. They find that both the J-curve model,
which anticipates sustained growth after a sharp downturn, and the
"disaster capitalism" perspective, which posits that neoliberalism
led to devastating outcomes, have significant basis in fact. While
substantial percentages of the populations across a variety of
postsocialist countries enjoyed remarkable success, prosperity, and
progress, many others suffered an unprecedented socio-economic
catastrophe. Ghodsee and Orenstein conclude that the promise of
transition still remains elusive for many and offer policy ideas
for overcoming negative social and political consequences.
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