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  • 1 Emeritus of Harvard University and Corvinus University of Budapest
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Editor's Note: This essay paper of Professor Kornai with an unusually provoking title consists of two parts. Part I is the slightly edited, non-abridged version of his writing published as an oped in The Financial Times (FT) on 11 July 2019, the world's leading global business publication (Kornai 2019a). Subsequently, the full text of this paper was published in the Hungarian weekly magazine Élet és Irodalom (Life and Literature; Kornai 2019b), which in turn generated a number of commenting articles published in the same weekly. Still in the month of July, the original essay was translated into Chinese by a Hong Kong newspaper and into Vietnamese. An influential multilingual Chinese newspaper gave an extensive summary of the FT essay (Street 2019). The latter one, according to our best knowledge, was disseminated only on the internet. Part II is the translated and slightly edited version of Kornai's second article, published in September this year on the same topic (Kornai 2019c). In this second essay he responded to his critiques both in Hungary and world-wide. This piece was published in its original form in Hungarian by the previous mentioned Hungarian weekly. We, the Editors of Acta Oeconomica, are proud to publish the complete English translation of this second essay first time. We thank for the opportunity given to us by Professor Kornai to publish the Frankenstein-papers in an integrated form, together with all the necessary bibliographic references.

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