Dynamism, Rivalry, and the Surplus Economy: Two Essays on the Nature of Capitalism

Dynamism, Rivalry, and the Surplus Economy: Two Essays on the Nature of Capitalism

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. "Kornai is one of the most profound, inspiring, and leading economists in the study of fundamental regularities in capitalism and socialism... This book fills an important intellectual gap in understanding the nature of capitalism." -- Journal of Economic Literature " Dynamism, Rivalry and the Surplus Economy " gives an inspiring contribution to a research program somewhat left behind by the profession of economists. [It] will encourage a renewed and welcome plurality in the approach of the nature of the capitalist system." -- Bernard Chavance, The Journal of Comparative Economic Studies This book examines capitalism as an economic system and in comparison to socialism, explaining capitalism as an economy of surplus--a chronic excess of supply of goods and labor. Professor of Economics Emeritus, Harvard University and Corvinus University of Budapest. More information can be found at www.kornai-janos.hu http://www.kornai-janos.hu.