Though it’s become a truism that the economic system of the USSR and its allies failed, the actual record is more nuanced. State socialism did not bring the grand achievements that its founders had hoped for, but neither did it leave these countries worse off than they were beforehand. In fact, most Soviet countries did better overall under socialism than under capitalism. Once we recognize this, we face a puzzle: Why did so many economists within the Soviet Bloc come to believe that they were working within a catastrophically dysfunctional economic system? And why, when presented with a crisis in the late 1980s, were they so quick to embrace capitalism?
Brian Porter-Szűcs, Ph.D. is Arthur F. Thurnau Professor of History at the University of Michigan-Ann Arbor, and the History Department’s Director of Undergraduate Studies. He teaches classes on the history of the economy, the intellectual history of capitalism and socialism, the history of Roman Catholicism, and the history of Poland. Prof. Porter- Szucs has won many awards, including a Michigan Humanities Award, the John Dewey Award for Outstanding Teaching from UM’s College of Literature, Science, and the Arts, and an Excellence in Education Award from L.S.& A. He’s authored numerous journal articles and books, including Commodified Communism: Socialist Values and Capitalist Prices in the Polish People’s Republic, and Faith and Fatherland: Catholicism, Modernity, and Poland, both published by Oxford University Press.