Most analysts describe Orbanomics as anti-liberal anti-business policies only serving the interests of the political elite and loyal oligarchs. However, this is a misunderstanding. A wide segment of domestic and transnational elites benefit. Orban’s regime has a socio-economic logic that can only be understood in the context of economic globalisation. Orbanomics is a faulty and polarising answer to the crisis of Hungary’s post-1990 liberal dependent economic model. The long-term viability of Orbanomics and his regime requires authoritarian fixes. This analysis explains the political-economic logic of Orbanomics.
Keywords
Authoritarianism; Political economy; Illiberalism; Democratic backsliding; Dependent development; Accumulative state; Post-socialism; Orbanomics
Cite as: Scheiring, G. (2020). Orbanomics: A Polarising Answer to the Crisis of Liberal Dependent Capitalism. Friedrich Ebert Stiftung. Budapest.