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131 147 Kornai, J. (1992): The Socialist System. The Political Economy of Communism . Oxford: Oxford University Press. Kornai J

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What Economics of Shortage and The Socialist System have to say to the (Hungarian) readers today

An introductory study to the first two volumes of the life’s work series

Acta Oeconomica
Author: János Kornai

1992 Kornai, J. (1993): A szocialista rendszer (The Socialist System). Budapest: Heti Világgazdaság Kiadó

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The system paradigm revisited

Clarification and additions in the light of experiences in the post-socialist region

Acta Oeconomica
Author: János Kornai

. Kornai , J. ( 1992 ): The Socialist System . Princeton : Princeton University Press – Oxford: Oxford University Press . Kornai , J. ( 2000 ): The System

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The paper sets out to show that János Kornai's book Economics of Shortage, published in 1980, had played a very important role in the intellectual preparations for transition - most certainly in Hungary but also in other former socialist countries. It analyses the environment in which the book was born and formulates eight theses on its effects, emphasising its professional soundness, carefully pointed focuses, clarity of methodology and radicalising influence. The paper concludes that later on the book also helped the analysis of the transition process itself.

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Anti-Equilibrium (1971) was well ahead of its time in emphasising that (i) economics should draw from biology, rather than physics, as its methodological underpinning; (ii) evolutionary logic requires a different type of decision-making in simple, routine matters, as opposed to large and important decisions; (iii) the most important production processes are non-linear, with increasing returns to scale being the rule, rather than the exception in modern capitalist economies and — in conclusion — that there is no such thing as general equilibrium. In modern societies, goods and services are either in shortage (Socialism) or in a state of oversupply (Capitalism). It is either a buyers’ market or sellers’ market.

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Kornai, J. (1992): The Socialist System . Oxford: Oxford University Press — Princeton: Princeton University Press. Kornai J. The Socialist System

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the historical and political differences between the Soviet Union and Hungary.’ 46 Constitution of Hungarian People’s Republic in 1949 employed numerous regulations from the 1936 Soviet Constitution. It ensured the socialist system applied in the whole

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Acta Oeconomica
Authors: Tibor Palánkai, István Benczes, and Judit Kapás

Kornai, J. (1992): The Socialist System, the Political Economy of Communism . Oxford: University Press. Kornai J. The Socialist System, the Political

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Acta Oeconomica
Authors: Katalin Szabó and Jan Kettnaker

): The Socialist System, the Political Economy of Communism. Oxford: Oxford University Press. The Socialist System, the Political Economy of Communism

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Society and Economy
Authors: Andreea Amarascu, Alena Pálinská, and István Magas

2009 Kornai, J. (1992): The Socialist System: The Political Economy of Communism . Oxford: Clarendon Press

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