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.

Log in to favorite or list