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38-579: Defunct Leszek Henryk Balcerowicz ( pronounced [ˈlɛʂɛk balt͡sɛˈrɔvit͡ʂ] ; born 19 January 1947) is a Polish economist, statesman, and Professor at Warsaw School of Economics . He served as Chairman of the National Bank of Poland (2001–2007) and twice as Deputy Prime Minister of Poland (1989–1991, 1997–2001). In 1989, he became Minister of Finance in Tadeusz Mazowiecki's first non-communist government and led

76-457: A deeply divided and polarized society. This led to the rise of populist movements that gained popularity through dissatisfaction with the reforms - this included the left-wing agrarian Self-Defence of the Republic of Poland (which became known for its slogan "Balcerowicz must go!"), far-right League of Polish Families , and later Law and Justice . The plan was decried as "economic genocide" by

114-449: A problem for some two decades after the implementation of the reforms, leaving certain poverty-stricken regions with structural unemployment. Reducing unprofitability of the state-owned companies required significant layoffs. Even though over 2 million Poles emigrated from Poland since its entry into the EU, until 2010s, the unemployment level remained at 13%. Populist politician Andrzej Lepper ,

152-683: A separate legal entity and was granted the status of an institution of higher education . The school was renamed Szkoła Główna Handlowa (SGH) in 1933. After World War II , SGH was nationalized and its name changed to Szkoła Główna Planowania i Statystyki (Main School of Planning and Statistics) , abbreviation SGPiS. The school regained its pre-war name after the fall of communism in 1991. SGH Warsaw School of Economics offers courses leading to bachelor's or master's degrees to both full-time and extramural students. It also provides programs for doctoral and postgraduate degrees. Its Finance and Accounting program

190-501: Is available in different departments, on defined conditions: free access, library order slips, or borrowing. Students are allowed to borrow books exclusively from the Students’ Lending Library. Gospodarka Narodowa. The Polish Journal of Economics is a quarterly scientific journal publishing leading research across all economics and economic policy fields. The journal was established in 1931. Since 2000, it has been edited at

228-527: Is granted after completing a required number of credits (about six semesters of studies), and the MA (MSc) degree is awarded after completing about eight to ten semesters (including six semesters for the BA), which is the maximum period of tuition-free study at SGH. Students do not necessarily have a BA diploma before applying for a master's degree. The time required for the degree in the given specialization depends mostly on

266-496: Is praised only by people from the same camp as him - representatives of Polish neoliberalism". Kołodko notes the excessive scale of reductions in household incomes (including real wages), as after two months of the reforms, real wages in Poland fell by over 40%. He also adds that since the reforms resulted in the industrial production falling by over 30%, that cost alone makes the reform impossible to be regarded as successful, regardless

304-678: The European University Association (EUA). The main campus is located at the northern edge of the Mokotów district of Warsaw . Bus and tram stops, as well as the Pole Mokotowskie metro station , are nearby. SGH Warsaw School of Economics abandoned the traditional departmental structure segregating students based on their major. Professors and research and teaching programs are grouped in five Colleges (Collegiums) and several extra-collegial units, such as

342-699: The Group of Thirty , and is a board member of renowned Washington, D.C. think-tank the Peterson Institute . Fellow of Collegium Invisibile . Since 11 June 2008 Balcerowicz has been a member of the board of Bruegel , the Brussels-based think tank on international economics . Since 2007, he has led the Civil Development Forum (Polish: Forum Obywatelskiego Rozwoju ), a think-tank with a mission of "increasing active support of

380-627: The Medal of the Merit , with the same aim as the current Order: award those who gave civil services to the Republic. The first 200 military medals were minted in gold and silver, giving them the title of First and Second Class . They were minted at the Casa de la Moneda , having a tricolor ribbon. The order had three classes: First , Second , and Third Class ; but later a new class was added ( Grand Officer ) that would be awarded to heads of state. In 1929,

418-476: The free-market economic reforms , proponents of which say they have transformed Poland into one of Europe's fastest growing economies, but which critics say were followed by a large increase in unemployment. In 2007, he founded the Civil Development Forum (Forum Obywatelskiego Rozwoju) think-tank and became the chairman of its council. In 1970 he graduated with distinction from the Foreign Trade faculty of

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456-639: The Central School of Planning and Statistics in Warsaw (currently: SGH Warsaw School of Economics ). Balcerowicz received his MBA from St. John's University in New York, in 1974 and doctorate from the Central School of Planning and Statistics in 1975. He was a member of the Polish communist party ( Polish United Workers' Party ) from 1969 until the declaration of martial law in Poland , in 1981. In

494-546: The Collegium of Economic Analysis of the SGH Warsaw School of Economics. The Journal of Public Policy Studies ( Polish : Studia z Polityki Publicznej ) was founded in 2014 at the Collegium of Socio-Economics of the SGH Warsaw School of Economics. It is published quarterly and is focused on public policy science issues . There are two gyms, a fitness room, a swimming pool, and a sauna available for students on

532-615: The Medal was renamed as the Order of Merit , and the current regulations were enacted in 2000, being slightly reformed in 2016. The President of Chile is the Gran Master of the Order. The Chancellor is the minister of Foreign Affairs . The Orders design is made up of a gold five-pointed star enamelled in while, backed by a gold laurel wreath . The central disc bears a representation of

570-499: The SGH campus. One may sign up for either Physical Education (PE) class or varsity team activities, neither of which is compulsory. PE classes include soccer, basketball, volleyball, callanetics , aerobics, swimming, and dancing. Varsity team activities include karate, skiing, aerobics, rock climbing, tennis, table tennis, track and field sports, sailing, soccer, swimming, volleyball, and basketball. The majority of Ministers of Finance in

608-538: The School's Senate and participating in setting all study regulations, provides students with housing and financial aid as well as organizes a wide range of cultural events. The Library of SGH Warsaw School of Economics is the largest economics library in Poland, with 786,334 volumes of monographs, 216,778 volumes of serials, 983 titles of subscribed periodicals – Polish and foreign, and approximately titles 30,000 foreign journals in electronic form. The SGH Library holdings are organized in several collections. Each collection

646-560: The anti-Bernanke for his scorn of distortionary fiscal stimulus. In various articles he has developed a comparison between the fiscally-profligate PIGS ( Portugal , Italy , Greece and Spain ) and the fiscally-disciplined BELLs ( Bulgaria , Estonia , Latvia and Lithuania ). Responsible fiscal policy brings about better growth outcomes, claims Leszek Balcerowicz. He has many followers among East European economists, most prominently Simeon Djankov , Deputy prime Minister and Minister of Finance of Bulgaria between 2009 and 2013. Balcerowicz

684-574: The disc is enamelled in blue with the inscription; "Orden del Merito Chile" (Order of Merit Chile). The centre of the disc is emblazoned with a representation of the Coat of Arms of Chile . The badge of the Order is the same for the Collar, Grand Cross, Grand Officer and Commander grades, however the final two grades; the Officer and Knight, are the same basic design however instead of being enamelled in white,

722-499: The following fields of study in Polish: From the 2006/2007 Academic Year SGH Studies are divided into: During the first three semesters, all SGH students study basic macro- and micro-economics, mathematics, statistics, philosophy, social science, law, history, geography, and languages. After passing the required examinations for the first three semesters, they must register for one of the six offered areas of study. The BA degree

760-797: The foreign language teaching center. Full-time and part-time studies are conducted in two levels. Bachelor studies, which last for six semesters, lead to a Bachelor's professional title. Holders of such a title may apply for a place and begin Master's studies, which last for four semesters. Accumulating the required minimum points, as well as credit terms, is necessary to earn a diploma. Individual subjects are divided into mandatory selections for particular fields, optional for those subjects, additional courses that develop knowledge unrelated to specific subjects, and courses essential for all economists. Certain subjects can have different numbers of points for each of these types of items. SGH full-time students are offered

798-503: The future stabilization. Lastly, Kołodko believes that Balcerowicz acted irrationally, as the plan did not manage to eliminate inefficient companies, but instead blindly discriminated against state-owned companies, denying them investment loans and granting them to private companies instead, regardless of their economic performance. Kołodko concludes that the Balcerowicz Plan was "creative destruction". High unemployment remained

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836-624: The governments of the III Republic of Poland were SGH alumni, including all from 1988 to 1997. Order of Merit (Chile) The Order of Merit (Spanish: Orden al Mérito ) is a Chilean order and was created in 1929. Succeeding the Medal of the Merit , which was created during the term of the President Germán Riesco through the Minister of War decree No. 1350 on 4 September 1906. This new national distinction

874-579: The late 1970s he participated in an economic-advisory team associated with the prime minister of People's Republic of Poland . In 1978–1980 he worked at the Institute of Marxism-Leninism . Later he became an economics expert in the pro-democracy independent trade union Solidarity (NSZZ "Solidarność") . From 1989 to 1991 and also between 1997 and 2000 he was the Deputy Prime Minister and Finance Minister of Poland. Between 1995 and 2000 he

912-688: The leader of Self-Defence, Andrzej Lepper . A slowly on-going rise in discontent continued into the 2000s, and in 2002, when asked about the Balcerowicz Plan, 78% of Poles described their economic situation as bad, and nearly 40% preferred to live in socialist Poland - amongst rural residents and skilled workers, this figure rose to 50%. On the other hand, neoliberal economists and experts such as Krzysztof Sobczak, Jeffrey Sachs (who personally advised Balcerowicz), and Jacek Rostowski agree that without introducing such radical changes, Poland's economic success and steady economic growth would not have been possible. Other economists and political scientists criticized

950-499: The leader of the populist Self-Defense ( Samoobrona ) party, created the slogan: "Balcerowicz must go" ( Balcerowicz musi odejść ), echoing the disgruntlement felt by some Poles with Balcerowicz's plan. However, since 2013, the unemployment rate has not exceeded 10% and in 2019 has reached the record low of 3.8%. During the Eurozone crisis Balcerowicz has been an outspoken supporter for fiscal discipline and has been frequently dubbed

988-444: The national budget. The prices of most consumer goods were freed and caps for annual increases established in state-sector employees' wages. Poland's currency, the zloty , was made convertible within the country's borders. This resulted in a substantial increase in prices and had forced state-owned companies while making them economically competitive. This amounted to a two-year shock to the Polish economy. Among other actions included in

1026-486: The national personification of Chile. The outer ring of the central disk is inscribed with "Republica de Chile" ( Republic of Chile ). The badge hangs from a gold Andean Condor , the national bird of Chile. The Star of the Grand Cross grade is made up of a ten-pointed highly curved star fronted by a gold laurel wreath. Placed on this is another five-pointed white-enamelled star with a central gold disc. The outer edge of

1064-467: The plan - Adam Przeworski described Balcerowicz Plan as a "a pure trickle-down model of reforms", and argued that Balcerowicz neglected the social costs of the reform, focusing only on growth. The economic growth produced by the reforms did not trickle down to average citizen. Polish economist Tadeusz Kowalik argues that Balcerowicz's reforms were a failure, stating that the good economic performance of Poland in comparison to other post-communist Poland

1102-771: The plan was the negotiation of a significant reduction (approximately 50%) of the debts inherited from the Polish People's Republic . In 1998, Balcerowicz was awarded the Euromoney Finance Minister of the Year Award for his accomplishments as a finance minister. The severity of the reforms was controversial and made Balcerowicz an object of criticism by some politicians in Poland. The reforms impoverished and vanished economic opportunities of already struggling social groups such as low-educated, rural and low-income workers. This resulted in Poland becoming

1140-659: The society for a wide range of individual freedoms (especially economic freedom), and – what goes with it – for strengthening the rule of law in the country". In 2016, he was appointed as representative of the Ukrainian President in the Cabinet of ministers . He is a recipient of the Chilean Order of Merit . The Balcerowicz Plan was a series of reforms, which brought the end to hyperinflation , dismantled inefficient economic structures, and balanced

1178-1063: The students themselves due to the free choice of courses (some limitations apply), professors, and the maximum workload per semester. SGH cooperates with over 250 foreign universities, as well as with many international organizations. The main partners are universities from the European Union, North America, and Asia. Each year, the international exchange involves about 500 SGH students, and the university hosts over 300 students from foreign institutes. Significant international cooperation programs include LLP Erasmus, CEMS (The Global Alliance in Management Education), Polish-German Academic Forum at SGH, Partnership in International Management (PIM), as well as double diploma programs (i.e. with Technische Universität Berlin ), and other bilateral agreements. The Student Union, an elective body representing all SGH students in

Leszek Balcerowicz - Misplaced Pages Continue

1216-413: Was a competitive athlete in his youth. In 1966, he became Poland's youth champion in cross country at the distance of 1500 meters. Since 1977, he has been married to Ewa Balcerowicz, an economist. He has three children. Warsaw School of Economics SGH Warsaw School of Economics was founded in 1906 as a private school named August Zieliński Private Trade Courses for Men . On 30 July 1919, it became

1254-493: Was caused by much better initial economic conditions. Kowalik accusses Balcerowicz of squandering a unique opportunity of creating a fair and egalitarian socio-economic system, instead creating a system "whose trademarks became mass and permanent unemployment, for many years the highest in Central Europe and then the highest in the EU; one of the highest income disparities; the dismantling of the welfare state. Added to this

1292-507: Was created to recognize the meritorious service provided by foreign military personnel to Chilean officials. The order is only awarded to foreigners. In 1817, Bernardo O'Higgins created the Legion of Merit, with the aim of recognizing the ones who have provided help to Chile, specially during its independence . In 1823, when O'Higgins fled the country after his abdication, the Legion was extinct. Nevertheless, in 1906, Germán Riesco created

1330-585: Was elected member of Galeria Chwały Polskiej Ekonomii , a hall of fame for "outstanding Polish economists". Balcerowicz was a member of the Commission on Legal Empowerment of the Poor , an independent initiative hosted by the UNDP and the first global initiative to focus specifically on the link between exclusion, poverty and the law. He is also a member of the influential Washington-based financial advisory body,

1368-858: Was ranked among the Top 60 Masters in Management by the Financial Times in 2018. SGH Warsaw School of Economics cooperates with around 200 higher education institutions worldwide within student and staff exchange areas. It is a member of the Community of European Management Schools and International Companies (CEMS), the Erasmus Programme , the Partnership in International Management Network (PIM), and

1406-527: Was the breaking down of workers' negotiating power. The shock operation meant consenting to the introduction of the worst variety of capitalism into Poland." Balcerowicz was also critized by Polish economist and former Finance Minister Grzegorz Kołodko , who described Balcerowicz Plan as "shock without therapy". Kołodko notes that Balcerowicz promised only a slight increase in unemployment and poverty, while in reality Polish GDP fell by 20% and rendered millions of Poles unemployed. According to Kołodko, "Balcerowicz

1444-655: Was the chairman of Freedom Union , a centrist free-market political party. On 22 December 2000 he became the Chairman of the National Bank of Poland. He was also a columnist for Wprost , a Polish news magazine. On 11 November 2005, the President of Poland, Aleksander Kwaśniewski , awarded L. Balcerowicz with the Order of the White Eagle for his "contribution to Poland's economic transformation". In 2006 he

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