Polish economic debates often focus on modernization and catching up with the West, but rarely ask what kind of capitalism has actually been built.
The Question of Polish Capitalism
In debates about the condition of the Polish economy, big words are often used: modernization, catching up with the West, economic sovereignty, reindustrialization. The more fundamental question is rarely asked: what kind of capitalism have we actually built?
Is it a system capable of independently reproducing competitive advantages, or rather a construction dependent on external impulses, regulations, and political prostheses?
The Concept of Ersatz Capitalism
The concept of ersatz capitalism, formulated at the end of the 1980s by Japanese economist Kunio Yoshihara, proves helpful in answering these questions.
Although the author referred to Southeast Asia, his intuitions today seem surprisingly relevant for Central Europe as well.