Ken Burch
May 15, 2021

Slovakia was the one place in what had been Eastern Europe where there wasn't massive austerity- as a consequence, there was far less dislocation there than in Poland, Hungary, and what had been the DDR. In all of those cases, the economy was subjected to "shock therapy", a brutal austerity policy devised by American economist Jeffrey Sachs. The assets of each country, along with effective control of each country's economy. were sold to foreign capitalists at fire-sale prices. The people of those countries, who were fighting, simply and legitimately, for an end to repression, were subjected to a capitalist restoration many if not most of them had not asked for. This helped convince a large chunk of the population of each of these societies that democracy and "freedom" were nothing more than synonyms for poverty and humiliation.

Ken Burch
Ken Burch

Written by Ken Burch

Retired Alaska ferryboat steward, grandparent, sometime poet. Radical yet independent of dogma. Likes nice days, playing banjo and not as yet dying of Covid.

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