ABSTRACT
Economic crisis and recession in the industrialized market economies and Third World countries are characterized by widespread bankruptcies, closure of plants and high unemployment. In the late 1970s and early 1980s, Poland experienced a deep economic crisis and recession which were comparable to-and in certain fields (foreign debt, for instance) were worse than-the economic depression of the 1930s. By the end of 1982, net material product, investment and output per worker (according to official statistics) were respectively 23.5 per cent, 45 per cent and 20 per cent less than in 1978 (Rocznik Statystyczny 1983:69, 155). Nevertheless, the yearly average employment level in the socialized sector remained stable in 197881; only in 1982 did the yearly average employment drop by 4 per cent and after that it remained stable. Neither bankruptcies nor plant closures took place.
