Unbalanceable Capitalism: A Note on János Kornai’s Theorizing of Economic Systems

Mihaela Iacob

Revista OEconomica, 2017, issue 02

Abstract: János Kornai consecrated as a “disequilibrium economist” (1971) at the dawn of an époque when “general equilibrium” had been the fictional, if not fantasist, analytical mainframe. Kornai’s “shortage economy” (1980), the state of nature of a socialist system, as its capitalist pair, the “surplus economy”, represent disequilibrium concepts emerging from system-specific attributes of these arrangements.

Date: 2017
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