Dynamism, Rivalry, and the Surplus Economy

Two Essays on the Nature of Capitalism

Business & Finance, Economics, Economic History
Cover of the book Dynamism, Rivalry, and the Surplus Economy by János Kornai, Oxford University Press
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Author: János Kornai ISBN: 9780199334780
Publisher: Oxford University Press Publication: November 6, 2013
Imprint: Oxford University Press Language: English
Author: János Kornai
ISBN: 9780199334780
Publisher: Oxford University Press
Publication: November 6, 2013
Imprint: Oxford University Press
Language: English

In Dynamism, Rivalry, and the Surplus Economy, János Kornai examines capitalism as an economic system and in comparison to socialism. Kornai explains his view of capitalism as an economy of surplus--a chronic excess of supply of goods and labor. This environment breeds rivalry among producers, which in turn encourages innovation. Socialism, on the other hand, is defined by a shortage of goods and labor and excess of demand. Whereas socialism is slothful and imitative, capitalism is dynamic and progressive. The two essays of this book will explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the systems work and how they develop.

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In Dynamism, Rivalry, and the Surplus Economy, János Kornai examines capitalism as an economic system and in comparison to socialism. Kornai explains his view of capitalism as an economy of surplus--a chronic excess of supply of goods and labor. This environment breeds rivalry among producers, which in turn encourages innovation. Socialism, on the other hand, is defined by a shortage of goods and labor and excess of demand. Whereas socialism is slothful and imitative, capitalism is dynamic and progressive. The two essays of this book will explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the systems work and how they develop.

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