PL
Wprowadzenie nowej polityki ekonomicznej w Polsce wymaga wyboru „lidera", czyli wzoru, który w innych państwach dobrze się sprawdził i może być właściwym przykładem dla przeprowadzanej transformacji. We współczesnym kapitalizmie zarysowały się dwa główne modele rozwoju gospodarki. Są to: model anglo-amerykański i niemiecko-japoński. Porównanie obu modeli, jako wzorów dla naszych przemian, wymagało przeprowadzenia w artykule analizy następujących zagadnień: charakteru rynku finansowego, istoty własności majątku narodowego oraz rodzaju i struktury opłat obowiązkowych.
EN
The contemporary market economies fall into two categories: Anglo-American and German-Japanese. These categories may serve as role models for Poland's transition. However, each of the models has its pros and cons. The first one has an advantage of being a „ capitalism without owners". Its core feature is dominance, that of stock exchange over banks, financiers over producers, shareholders over individual specific owners, short term credits over long term ones. The other model is the reverse picture of the first one. In either case, there is an ever growing importance of multinational business organisations and rapid development of the „black economy". Also, both models reveal strong tendencies for governments to licence the market, strengthen fiscalism and burocratic controls. This is the background for our reforms in Poland that introduce a system which somewhat ambivalent, in economic terms. This facilitates primary accumulation of capital by well positioned individuals. Banks appear to be supporting this process. Generally, the banking system in Poland draws upon the German tradition of financial institutions. What is unique is its participation in and impact on ownership transformation. The Warsaw Stock Exchange is still playing an accessory role in these processes. This is strongly correlated with the structure of private ownership in Poland, which is heading towards the Anglo-American option. Corporate ownership preferences and fragmentation of the equity market results in the growing position of managers and inflated business bureaucracy. This model seems to be doing well in Poland. The investment fund programme is one example of this trend. The development of Polish middel-class, which is the cornerstone of democracy, is hampered by high mandatory charges, i.e. income tax, profit and capital tax, obligatory social insurance, value added tax, which is one of the highest in Europe. These developments clearly indicate that Poland has not learned yet the art of using the best experience of others to its benefit. It allowed short-term policies favouring limited groups in society. Consequently, the country is a hybrid of command and control and the market and it has to face all the implications of this.