The Czech economy at the turn of the century

This article summarizes the successes and failures of the Czech Republic's economic transformation to date. The author believes that most important in the long term will be the way in which the Czech Republic is able to take advantage of the need to steer towards an integrated Europe. The biggest pr oblems - which are most evident in the institutional area - cannot be solve d by decree, but through the constant and consistent efforts of a large num ber of educated people. The presence of competent educated specialists is b ecoming a determining factor in whether the Czech economy will prosper and whether the nation will succeed in integrating into advanced European econo mic and political structures. Against the unconvincing advantages of a poli cy of detachment from the EU stand the indisputable economic and political benefits of membership. The author points out the risks that might lead to squandering of the present opportunity to integrate; namely the arguments o f the timorous and the politically myopic could hold sway in the decision-m aking.