Society and Economy
Volume/Issue:
Volume 35: Issue 4
From Anti-equilibrium to the Socialist System and beyond
Author:
Péter Gedeon Corvinus University of Budapest Department of Comparative Economics Budapest Hungary

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Pages:
437–450
Online Publication Date:
29 Nov 2013
Publication Date:
01 Dec 2013
Article Category:
Research Article
DOI:
https://doi.org/10.1556/socec.35.2013.4.1
Keywords:
political economy; shortage economy; surplus economy; soft budget constraint; socialist system; capitalist system; B52; P16; P51
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This essay attempts to understand János Kornai’s works from a political economy perspective. It argues that Kornai has significantly contributed to the formation of a new paradigm of political economy. The main endeavor of Kornai has been the combination of analytical concepts of economics with the empirical description of real economies. After a certain period of theoretical experimentation János Kornai formulated his research program that can be called the shortage economy explanation of the socialist system. The Economics of Shortage and The Socialist System have created a new theoretical paradigm in a framework in which it has become possible to establish a connection between the analytical and empirical, universal and historical aspects of the theory studying the socialist system as a real economic entity. János Kornai has built his analysis of the socialist system on the primary role of politics in the creation of economic institutions. In his present work on capitalism he has extended this thesis to the capitalist system. This seems to be an important contribution of his to a new political economy paradigm that is just in the process of formation.

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Society and Economy
Print ISSN:
1588-9726
Online ISSN:
1588-970X

Editor-in-chief: Balázs SZENT-IVÁNYI

Co-Editors:

  • Péter MARTON (Corvinus University, Budapest)
  • István KÓNYA (Corvinus University, Budapest)
  • László SAJTOS (The University of Auckland)
  • Gábor VIRÁG (University of Toronto)

Associate Editors:

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Society and Economy
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2023  
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CiteScore 1.5
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Society and Economy
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Society and Economy
Language English
Size B5
Year of
Foundation		 1972
Volumes
per Year		 1
Issues
per Year		 4
Founder Budapesti Corvinus Egyetem
Founder's
Address		 H-1093 Budapest, Hungary Fővám tér 8.
Publisher Akadémiai Kiadó
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ISSN 1588-9726 (Print)
ISSN 1588-970X (Online)

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