Defunct Leszek Henryk Balcerowicz (pronounced [ˈlɛʂɛk balt͡sɛˈrɔvit͡ʂ] ⓘ; born 19 January 1947) is a Polish economist, statesman, and Professor at Warsaw School of Economics.

In 1989, he became Minister of Finance in Tadeusz Mazowiecki's first non-communist government and led the free-market economic reforms, proponents of which say they have transformed Poland into one of Europe's fastest growing economies,[1][2][3][4] but which critics say were followed by a large increase in unemployment.

[6] 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.

[12] In 2006 he was elected member of Galeria Chwały Polskiej Ekonomii, a hall of fame for "outstanding Polish economists".

The Balcerowicz Plan was a series of reforms, which brought the end to hyperinflation, dismantled inefficient economic structures, and balanced the national budget.

[18] The prices of most consumer goods were freed and caps for annual increases established in state-sector employees' wages.

This resulted in a substantial increase in prices and had forced state-owned companies while making them economically competitive.

[19] Among other actions included in the plan was the negotiation of a significant reduction (approximately 50%) of the debts inherited from the Polish People's Republic.

The reforms impoverished and vanished economic opportunities of already struggling social groups such as low-educated, rural and low-income workers.

[22] 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!

[24] 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%.

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).