Europe since 1989

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The year 1989 marked the fall of the Berlin Wall and the collapse of communism in Eastern Europe, coinciding with the global rise of neoliberal economic theories championed by Reagan, Thatcher, and the Chicago School. These ideas significantly influenced the political, economic, and social transformations across Europe over the next 25 years. This award-winning work offers a comprehensive history of post-1989 Europe, narrated by Philipp Ther, who witnessed many key events, including the Velvet Revolution in Czechoslovakia and developments in postcommunist Poland and Ukraine. He vividly recounts the detrimental effects of liberalization, deregulation, and privatization on former Soviet Bloc countries, challenging the notion that "shock therapy" led to growth. Instead, he emphasizes that economic success or failure was shaped by human capital and grassroots transformation. Ther illustrates how the West's attempts to mold Eastern Europe also reshaped the West, particularly accelerating neoliberal reforms in reunified Germany. The narrative extends to the present, comparing Eastern and Southern Europe in the context of the 2008-9 global financial crisis. This compelling account is essential for understanding the complexities of contemporary Europe.