Market Reforms 20 Years Later
I recently had the pleasure to revisit Warsaw, Poland, and St. Petersburg, Russia, two decades after the start of market reforms in which I had participated as an economic adviser. Both cities, proud and venerable capitals, had surmounted the tumultuous collapse of the Soviet era. Shops were full; architectural treasures glistened; local and international tourists abounded. Yet the differences were also apparent. Warsaw has enjoyed a building boom, with impressive new business towers going up despite the economic slowdown in western Europe....