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Debt and crisis: Socio-economic critique of neoliberal transformation in Poland

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  • PrzemysÅ‚aw PluciÅ„ski

Abstract

The article offers an analysis of the processes of neoliberal transformation, or the transition from ‘real socialism’ to ‘real capitalism’, which took place roughly three decades ago in Central-Eastern Europe, with particular consideration given to Poland. The key to a sociological understanding of capitalist modernisation is the combination of two perspectives present in social sciences: analysis in terms of shock therapy and the prospect of debt. Referring to the concepts of the ‘rent theory of ownership’, the role of foreign debt, creditor–debtor relations and the resulting crisis are submitted to analysis as the key factors of modernisation. Finally, the social, political and cultural consequences of the neoliberal transformation are also considered. These are argued to be growing right-wing populist and authoritarian tendencies. JEL Codes: B51, E65, H63, P26

Suggested Citation

  • PrzemysÅ‚aw PluciÅ„ski, 2020. "Debt and crisis: Socio-economic critique of neoliberal transformation in Poland," The Economic and Labour Relations Review, , vol. 31(2), pages 211-229, June.
    • Handle: RePEc:sae:ecolab:v:31:y:2020:i:2:p:211-229
    DOI: 10.1177/1035304620911120
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    References listed on IDEAS

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    1. Radhika Desai, 2008. "Conclusion: from developmental to cultural nationalisms," Third World Quarterly, Taylor & Francis Journals, vol. 29(3), pages 647-670.
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    More about this item

    Keywords

    Creditor–debtor relations; crisis; debt; modernisation; ownership; real capitalism; real socialism; transformation; working class;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights

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