Dynamism Rivalry And The Surplus Economy Two Essays On The Nature Of Capitalism
Publisher: Oxford University Press Inc
Published: 2013
Language: eng
Number of pages: 191
ISBN-13: 9780199334766
Description: Kornai examines capitalism as an economic system and in comparison to socialism. He offers a view of capitalism as an economy of surplus - a chronic excess of supply of goods and labour. This environment breeds rivalry among producers, which in turn encourages innovation. Socialism, on the other hand, is defined by a shortage of goods and labour and excess of demand. Whereas socialism is slothful and imitative, capitalism is dynamic and progressive. The two chapters of this book explore these differing ideologies.