Every celebration of Poland’s regained independence offers a perfect opportunity to recall the times of the Second Polish Republic, now resplendent in its attire of historical sentimentalism. Often enough, it is set as a model state, while the references to it abound in the context of present-day challenges. The article aims to address the following question: in which period, i.e. 1918–1939 or after 1989, did Poland achieve more substantial success in terms of key economic indicators? A comprehensive outline of methodological and historical factors, combined with a comparison of economic indicators of the Second and the Third Polish Republic is deemed a prudent starting point for addressing the above-referenced question. With a view to precluding any confounding factors directly resulting from a long historical gap between the two, Poland’s economic indicators were juxtaposed against those of other European countries within the respective periods of time.