In Poland the restoration of capitalism was also known as the privatization (prywatyzacja). It was introduced through the Privatization Law in 1990.

On January 1, 1990, the Polish postcommunist government introduced one of the most far-reaching and radical economic reform programs ever undertaken in any country during this century. Aimed at quickly transforming a communist economy based on central planning and state ownership into an economy with market allocation of resources and largely private ownership, the Balcerowicz Plan, named after Finance Minister Leszek Balcerowicz, sought to do many things at once: greatly reduce the runaway rate of inflation (which was as high as 50% per month); decontrol most prices; eliminate shortages; make the Polish currency convertible into other currencies at market rates; cease the subsidization of state enterprises; and remove most restrictions on foreign trade.

The government’s actions were intended to stabilize the macroeconomy and to create the conditions necessary for privatization, enterprise restructuring, and the development of an institutional system compatible with a market economy. Because of the speed and scope of the reforms, the impact on Polish markets and enterprises was immediate and profound. Remarkably, the main goals of the program, widely known as “shock therapy,” were achieved within a few months.

In Poland the restoration of capitalism was also known as the privatization (prywatyzacja). It was introduced through the Privatization Law in 1990.