Description
During the 20th century, Vietnam and Poland were both victims not only of devastating wars, but also of socialist planned economies that destroyed whatever war hadn’t already. In 1990, Vietnam was still one of the poorest countries in the world, while Poland was one of the poorest in Europe. But in the three decades since then, both countries have drastically improved their citizens’ standards of living and escaped the vicious cycle of national poverty.
In this book, Rainer Zitelmann identifies the reasons behind the sensational growth of both nations’ economies, drawing out the lessons that other countries can learn from these two success stories. To explain the source of their success, he returns to Adam Smith’s 1776 treatise, The Wealth of Nations: the only way to overcome poverty is through economic growth, Smith wrote, and economic freedom
