János Kornai, and Neoclassical versus Institutional Economics

Jozsef Moczar

Acta Oeconomica, 2018, vol. 68, issue supplement1, 73-83

Abstract: János Kornai rejected the relevance of Walrasian equilibrium and considered only disequilibrium states to be compatible with reality in his Anti-Equilibrium. His research was guided by the belief that reality and theory should form an integral unit. Neoclassical economists did not accept his anti-equilibrium theory, which motivated Kornai to relentlessly provide additional evidences. The article follows this exciting and noble struggle from a new perspective in the context of scientific theory.

Keywords: general equilibrium; disequilibrium; anti-equilibrium theory; neoclassical and institutional economics; Newtonian dynamics; system paradigm (search for similar items in EconPapers)
JEL-codes: B1 C D5 E13 E14 (search for similar items in EconPapers)
Date: 2018
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