Tuesday, April 8, 2014

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

János Kornai (Harvard University). Dynamism, Rivalry, and the Surplus Economy (Oxford University Press, 2014).

"[In] Dynamism, Rivalry, and the Surplus Economy, Kornai has turned his attention to [capitalism] in an effort to explain what makes capitalism successful and what hampers the progress of socialism. This book argues that the two systems bring about opposing patterns of supply and demand in the labor and goods markets. Socialism is characterized by a shortage of goods and labor and by an excess of demand. Capitalism, on the other hand, is an economy of surplusa chronic excess of supply of goods and labor."
Dynamism, Rivalry, and the Surplus Economy book jacket