The Polish Economy: Legacies from the Past, Prospects for the Future

(Hardback)

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From a centrally planned economy to that of a free market system, economic reform measures introduced in Poland have been perhaps the most radical and ambitious in the newly-free countries of Eastern Europe. Ramifications and implications of these economic reforms impinge on and influence the thinking of many in the recently liberalized, formerly communist societies. This study assumes a two-pronged approach, combining document research and field interview into a synthesized study of the Polish economy, with particular concerns given to the Poland of the future. Raphael Shen asserts that the measures taken for transforming the Polish economy from the "old" to that of the "new" should be paced over time rather than overnight, and moderate rather than radical. Throwing the centrally-planned system out and replacing it with the free market system instantly means that, in the short term at least, Poland will have no intact economic system. The necessary economic infrastructure and basic institutions have had no time to develop. The contrived market system cannot function in a meaningful way. The current experience in Poland has already led to extensive disillusionment among Polish consumers and doubts among academicians. The Polish experience will be a valuable lesson in economics for students graduate students, undergraduates, teachers and research scholars studying in the areas of comparative economic systems, economic development and economic history.

Reviews

"Professor Shen's book is concise and well written. In a short period of time, a businessman, an academician, or a government official can obtain from it an overall perspective and important insights as to how the Polish economy operates and its problems and prospects. . . . I highly recommend this book to persons seeking an understanding of the situation in Poland, including how that situation originated and how it may be changed."-Glenn L. Johnson Professor Emeritus Michigan State University

Author Bio

RAPHAEL SHEN is a professor in the College of Business Administration at the University of Detroit. He has published many article abstracts in the Atlantic Economic Society Journal and has contributed essays to books and conferences.