How Nations Escape Poverty: Vietnam, Poland, and the Origins of Prosperity

During the 20^th 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 is the crucial prerequisite for such growth. Developments over the past 250 years have proved Smith right. The market economy has led to a global decline in poverty unparalleled in human history. Compare this to the fifty years of "development aid" in Africa that have only entrenched the status quo, and it is clear which approach yields superior results. Despite these strides, almost ten percent of the world's population still lives in extreme poverty. So, what measures actually help to alleviate poverty today? Through a wealth of data and stories from the everyday lives of Polish and Vietnamese people who experienced reforms, Zitelmann demonstrates the persistent relevance of Smith's ideas to economic flourishing in the 21^st century.

Author: Rainer Zitelmann
Publisher: Encounter Books
Published: 03/26/2024
Pages: 240
Binding Type: Hardcover
Weight: 1.05lbs
Size: 8.90h x 6.10w x 1.00d
ISBN: 9781641773959

About the Author
Rainer Zitelmann (1957) studied history and political science and graduated with distinction. In 1986, he was awarded a doctorate in philosophy for his thesis Hitler's National Socialism. The study, which was awarded the grade "summa cum laude," received worldwide attention and recognition. From 1987 to 1992, Zitelmann worked at the Central Institute for Social Science Research at the Free University of Berlin. He then became editor in chief of Ullstein-Propyläen publishing house, at that time Germany's third-largest publishing group, and headed various departments of the German daily newspaper Die Welt. In 2000, he set up his own business, Dr. ZitelmannPB, GmbH, which has since become leading PR agency for real estate companies in Germany. He sold the business in 2016. In 2016, Zitelmann was awarded his second doctorate, this time in sociology, with his thesis on the psychology of the super-rich, The Wealth Elite. Zitelmann has written and edited a total of 28 books, which have achieved substantial success in more than 30 languages around the world. He is a much sought-after guest speaker in Asia, the United States, South America and Europe. Over the last few years, he has written articles and given interviews to many of the world's leading media outlets, including the Wall Street Journal, the Times, the Daily Telegraph, Forbes, Newsweek, Le Monde, Corriere della Serra, Frankfurter Allgemeine Zeitung, Der Spiegel, Neue Zürcher Zeitung, and numerous media in Asia and Latin America.