This book describes how liberalization, deregulation, and privatization had catastrophic effects on former Soviet Bloc countries from the period of 1989 to the present.

An award-winning history of the transformation of Europe between 1989 and today

In this award-winning book, Philipp Ther provides the first comprehensive history of post-1989 Europe, offering a sweeping narrative filled with vivid details and memorable stories. Europe since 1989 shows how liberalization, deregulation, and privatization had catastrophic effects on former Soviet Bloc countries. Ther refutes the idea that this economic “shock therapy” was the basis of later growth, arguing that human capital and the “transformation from below” determined economic success or failure. He also shows how the capitalist West’s effort to reshape Eastern Europe in its own likeness ended up reshaping Western Europe, especially Germany. Bringing the story up to the present, Ther compares Eastern and Southern Europe after the 2008–9 global financial crisis. A compelling account of how the new order of Europe was wrought from the chaotic aftermath of the Cold War, Europe since 1989 is essential reading for understanding post-Brexit Europe and the present dangers for democracy and the European Union.