Author:
Wladimir Andreff
andreff@club-internet.fr
https://orcid.org/0000-0001-6098-3078
Wladimir Andreff
Honorary Professor, University Paris 1 Panthéon-Sorbonne, France
President of the Scientific Council at the Observatory of the Sports Economy, French Ministry for Sports, France
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President of the Scientific Council at the Observatory of the Sports Economy, French Ministry for Sports, France
Search for other papers by Wladimir Andreff in
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Abstract
János Kornai has achieved a wide-scope multifaceted theoretical analysis moving from Marx to Walras-Lange, then to post-Keynesian disequilibrium economics, and eventually, to Hayek and economic institutionalism. Such a travel is not without meeting dilemmas that Kornai has had to struggle with and opt to resolve them in some way. Such process is illustrated first with a planner's dilemma. On the one hand, Kornai has elaborated on – together with Tamás Lipták – a mathematically ‘super’ solution to finding the optimal plan through a two-level planning procedure. But once implemented the latter has appeared to be too slow, and Kornai has rejected Lange's ideas for Hayek's criticism against central planning. A second dilemma is about how to analyse a centrally-planned shortage (excess demand) economy in which those industries privileged in the planners' pecking order priorities were producing an excess supply of (useless) goods. Kornai did not find a solution in the current disequilibrium economics but, instead, in a ‘lax’ communist bureaucracy generating a soft budget constraint. The third dilemma is that Kornai's views about disequilibria have not converged with the Post-Keynesian disequilibrium models. The latter were unable to conceive a simultaneous excess demand and excess supply in a same market, due to their so-called shorter-side rule. Instead, Kornai has found a solution that fits with theorising the observed micro (or even infra-micro) disequilibria in a Debreu's book, some years after having published a hard criticism of neo-classical microeconomics. A final question is raised: is Kornai's theory a decisive contribution to the analysis of comparative economic systems – that no one denies – or has he added some value to a more general theory of economic disequilibrium?
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Andreff, W. (2014): Le réalisme économique de Janos Kornaï: évolutif et éclectique (The Eeconomic Realism of János Kornaï: Evolutionary and Eclectic). Economies et Sociétés, 48(6): 1039–1062.
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Andreff, W. (2021): Janos Kornai: A Non-Mainstream Pathway from Economic Planning to Disequilibrium Economics. Public Choice, 187(1–2): 63–83.
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Kornai, J. (1992): The Socialist System. The Political Economy of Communism. Oxford: Clarendon Press.
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Kornai, J. (2005): A gondolat erejével. Rendhagyó öneletrajz (By Force of Thought: Irregular Memoirs of an Intellectual Journey). Budapest: Osiris.
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Kornai, J. (2014): Dynamism, Rivalry and the Surplus Economy. Two Essays on the Nature of Capitalism. Oxford: Oxford University Press.
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Kornai, J. – Maskin, E. S. – Roland, G. (2003): Understanding the Soft Budget Constraint, Journal of Economic Literature, 41(4): 1095–1136.
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Roland, G. (2008): A Review of János Kornai’s “By Force of Thought: Irregular Memoirs of an Intellectual Journey”. Journal of Economic Literature, 46(1): 145–150.
Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: vanyai.judit@krtk.hu
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| Acta Oeconomica | |
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