(FORTUNE Magazine) – One of Mikhail Gorbachev's influential economic advisers, Leonid Abalkin, has called for the U.S.S.R. to adopt the Polish solution -- a plunge into free markets, denationalization of state industries, and incentives for foreign investment -- all as early as this summer.

None too soon. The ever more depressing economy is the most pervasive of Russia's many troubles. The mood of the people is one of hopelessness. The man on the street figures inflation is running 100% annually. Black-marketers, who paid six rubles for a dollar last year, now offer 20 or more. People who have money can't spend it: Lines still stretch down the block for even the shoddiest goods. Glasnost has heightened disillusionment. When Soviets read about crime and poverty, many blame perestroika for the troubles. They are deeply suspicious of Gorbachev's halting efforts to promote economic reform. Many consumers see the free-market cooperatives as gougers that buy goods cheap from the government and sell as high as possible. Gorbachev concedes Abalkin's cure ''may initially be accompanied by painful problems.'' Among them: The ranks of the nation's 40 million poor -- by U.S. standards there are many more -- will increase as prices are freed and redundant workers lose their jobs. The Poles have felt this kind of pain. But they are bearing it long enough for the reforms to start to work because Solidarity remains popular. And, unlike Gorbachev, Premier Mazowiecki won in a free election. Given the Soviet mood, the Abalkin plan risks chaos. But at least it goes somewhere -- the old course has been a long, wrong road to nowhere.