Socialism, Capitalism, Transformation (A Central European University Press Book)

This volume gathers together essays on the theme of economic transition in Central and Eastern Europe, written by the former Polish Minister of Finance. In it, the author summarizes the research on institutions, institutional change and human behaviour that he has undertaken since the late 1970s. He addresses such issues as the socialist market economy, reformability of the Soviet-type economic system, democratization and market-orientated reform in Central and Eastern Europe, and the Polish model of economic reform Socialism, Capitalism, Transformation reveals the mind of an academic who was not afraid to turn politician when the opportunity arose. In it, Leszek Balcerowicz, leader of the largest opposition party in Poland, former Deputy Prime Minister and Minister of Finance, summarizes some twenty years of research into the connections between economic and political institutions and human behaviour, institutional change, and the way such change occurs. Part I provides a comparative analysis of capitalist and socialist regimes, examining in particular the compatibility of different economic and political institutions and policies. In Part II Balcerowicz discusses institutional change, focusing on the post-communist transition in Central and Eastern Europe since the late 1980s. He deals with political and economic developments and looks at the interplay between them. Here he blends academic knowledge with the insight gained while holding a position of major government responsibility during Poland's period of 'extraordinary politics'. Part III contains writings on Poland's own economic transformation and related political developments. The final chapter consists of personal recollection of Poland's reforms - an insider's view of a pivotal phase in that country's history Contents 1. Introduction: Institutions, Human Nature and Behaviour Part I: Socialism versus Capitalism 2. Problems with the Definition of Socialism in Today's World 3. On the 'Socialist Market Economy' 4. The 'Socialist Calculation Debate' and Reform Discussions in Socialist Countries 5. On the Reformability of the Soviet-Type Economic Systems 6. The Soviet-Type Economic System, Reformed Systems and Innovativeness 7. Towards an Analysis of Ownership 8. Political and Economic Regimes: Problems of Compatibility and Performance Part II: From Socialism to Capitalism 9. Understanding Post-Communist Transitions 10. Economic Transition in Central and Eastern Europe: Comparisons and Lessons 11. Various Roads to a Private Market Economy 12. Macropolicies in Transition to a Market Economy: A Three-Year Perspective (with Alan Gelb) 13. Common Fallacies in the Debate on the Economic Transition in Central and Eastern Europe Part III: Polish Economic Reform: 1989-93 14. Polish Economic Reform, 1981-88: An Overview 15. The Political Economy of Economic Reform: Poland, 1989-92 16. Transition to the Market Economy: The Polish Case, 1989-93 17. Conclusion: Personal Reflections on Poland Index