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

Abstract

In Dynamism, Rivalry, and the Surplus Economy, Janos Kornai examines capitalism as an economic system and in comparison to socialism. Kornai explains his view of capitalism as an economy of surplus--a chronic excess of supply of goods and labor. This environment breeds rivalry among producers, which in turn encourages innovation. Socialism, on the other hand, is defined by a shortage of goods and labor and excess of demand. Whereas socialism is slothful and imitative, capitalism is dynamic and progressive. The two essays of this book will explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the systems work and how they develop. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/economicsfinance/9780199334766/toc.html