Poland Plots Rush Toward Capitalism

The Solidarity-led government unveiled plans today to make Poland the first country in the world to switch from communism to capitalism.

It published a far-reaching economic program aimed at introducing free-market mechanisms and capitalist institutions “in the swiftest possible way” after 45 years of communism.

The program included restoring private property and other forms of non-state ownership to a pivotal role in the country’s economic system.

It set breakneck timetables for the sweeping structural changes and for simultaneous austerity measures designed to bring hyper-inflation under control.

“The economic goal is to set up a market economy whose features resemble the proven systems of highly developed economies,” it said.

The measures included extensive sales of state property and removal of restrictions on land and real estate ownership. These were designed to restore private property as a permanent feature of the economy and make it a driving force for efficiency and structural change.

The government admitted that the program would cause temporary industrial recession and unemployment and that it would be a year before Poland’s hard-pressed people saw signs of improvement.

Among the planned changes were introducing capitalist institutions such as bank reform, personal income tax, value added tax and currency and stock markets.