This text documents Sachs's work and thoughts on the problems of economic stabilization and transformation in Poland and the rest of Eastern Europe. Focusing on the progress of Poland's "big bang" reforms since 1990, Sachs discusses the results regarding inflation, shortages and currency reform.

Jeffrey Sachs, who has served as an economic advisor to several countries in Latin America, Eastern Europe, and Asia, is one of the architects of Poland's strategy for rapid transformation from communism to capitalism. This book documents Sach's work and thoughts on the problems of economic stabilization and transformation in Poland and the rest of Eastern Europe. Sachs begins by noting that Poland's basic goal is to "return to Europe" - to emulate the political and economic institutions of Western Europe and become loosely integrated with the Western European economies. Sachs stresses that to achieve that goal, Poland needs to adopt a comprehensive and coordinated strategy of liberalization, macroeconomic stabilization, and privatization. Focusing on the progress of Poland's "big bang" reforms, which started in 1990, Sachs discusses the results regarding inflation, shortages, currency reform, and the development of the private sector. He points out risks in the Polish transformation and highlights the areas in which Western assistance is most vitally needed.

What is to be done NOW?
Poland's big bang
the return to Europe.