Anti-Communism and Counterintelligence: Poland, 1918-1944
On September 24, 2014, the Kosciuszko Chair of Polish Studies at The Institute of World Politics held a lecture entitled "Anti-Communism and Counterintellige...
By: The Institute of World Politics
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Anti-Communism and Counterintelligence: Poland, 1918-1944 - Video
WASHINGTON (MarketWatch) Twenty-five years ago this month two remarkable events took place in Washington.
On Sept. 27, 1989, in the musty embassy ballroom of the Polish Peoples Republic on upper 16th Street, Leszek Balcerowicz, finance minister in the new non-communist government, outlined a plan to transform Polands economy from communism to capitalism. Shock therapy would be launched in three months.
Balcerowiczs message was breathtaking. Prices would be decontrolled, individuals allowed to start businesses, the survival of state enterprises determined by the market. There was more the printing press would be shut down halting hyperinflation, the worthless Polish currency redeemed USDPLN, +0.14% .
Financial journalists in Washington for the annual meeting of the International Monetary Fund were astonished. Some sprang from their seats to file stories after the modest man in the ill-fitting East European suit stopped talking. For those of us remaining the room was electric. One reporter said, there are lots of books about transforming capitalism to communism, none for going the opposite direction.
This was six weeks before the Berlin Wall came down.
On Oct. 19, 1989, 34-year-old Jeffrey Sachs, the Harvard economist advising the Polish government, made an emotional plea to Washington insiders. At a Willard Hotel dinner arranged by the Institute for International Economics, Sachs said Poland required a cash injection to leap across the chasm from disintegrating communism to capitalism. The next six months, he said, are critical in determining whether Eastern Europes first non-communist government since World War II succeeds.
Sachs had made his name by helping to end hyperinflation in Bolivia. He essentially shamed his Washington audience into action, excoriating the U.S. government, the IMF and World Bank for dragging their feet. It was imperative, he said, that the Polish experiment succeed.
The debate over big bang and shock therapy essentially began that night.
J.P. Morgan Funds global market strategist James Liu explains how investors can stay disciplined during constant global unrest. Photo: AP.
Sachs had offered his services to Poland only weeks earlier and was just off the plane from Warsaw, where there was chaos and anger over shortages of basic commodities, including food. Few outsiders thought the planned reforms, which in the short term would further depress living standards had any chance of working. Sachs said later, It was a terrifying and unpredictable period.
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Outside the Box: The Polish miracle turns 25
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DALLAS, Texas (1080 KRLD) The Banh Shop in Dallas has officially changed its restaurant logo, after coming under fire two weeks ago fora logo that many said looked like the red star of Communism.
A petition from the Vietnamese community led Yum Brands (also ownsKFC, Pizza Hut and Taco Bell), the sandwich shops parent company, to apologize and remove the logo.
A Yum spokesperson released this statement today from the corporate office:
After listening and responding to our customers, we have changed the logo for the Banh Shop restaurant in Dallas. While unintentional, we certainly see how use of a red star was offensive to some and weve eliminated it from the design and apologize to anyone who may have been offended. The new design, created with input from Mr. Thanh Cung, President of the Vietnamese-American Community of Greater Dallas, incorporates an accent over the letter a and is simple and clean, using a black and white contemporary design. This new logo will be used on all signage, menu, uniforms and other marketing material including our website. We greatly appreciate the feedback from the community, and look forward to serving our customers delicious banh mi sandwiches.
Thanh Cung, President of the Vietnamese-American Community of Greater Dallas, who is also a former prisoner of war, told CBSDFW.com the logo resembled the red star often used as a symbol of communism.
After the company agreed to change the logoCung said, Im very, very happy not for myself but for the Vietnamese community.
(2014 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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Community Feedback Causes Restaurant To Change Logo
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