Systems, Institutions, and Values in East and West
Engaging with János Kornai's Scholarship
Leading social scientists, empirical analysts, and policy practitioners demonstrate the various ways in which the insights of János Kornai, a renowned early analyst and critic of the command economies of Eastern European communist states, are stirring academic and policy discussions about current challenges. While dissecting the economic theories and practices in the Soviet Bloc, Kornai devised and applied concepts such as soft-budget constraints, rush versus harmonic growth, surplus versus shortage economy, non-Walrasian equilibrium, bureaucratic coordination, and the invisible power of the communist party. These concepts are commonly applied to a variety of issues in the contexts of fundamental transformation. The cases discussed in this volume include the transitional paths of post-communist economies, the pitfalls of East European market-building, economic repercussions of the dissolution of Yugoslavia, and the process of integration in the Eurozone.
In conclusion János Kornai's thoughts on a variety of research topics as well as the value of democracy are included as he delivered at the conference celebrating his 90th birthday in 2018.
About the Authors
Miklós Rosta received his PhD in Economics in 2012. Currently, he is the head of the Department of Comparative and Institutional Economics and Director of the Center of Central Asia Research at Corvinus University of Budapest. His main research interests include issues connected to institutional economics and public management studies. He serves as editor of the Hungarian Economic Review (Közgazdasági Szemle).
Dora Piroska has been a Lecturer at the Department of Government at the University of Texas at Austin, an Associate Professor at the Corvinus University of Budapest and currently a Visiting Professor at the Central European University, Budapest. She is a political economist with a special interest in the Central and Eastern European region.
"The originality of this book lies in its thorough investigation of almost every aspect of János Kornai's work. It explores Kornai's oeuvre with regard to socialism, capitalism, post-socialist transition, as well as different economic sectors such as health economics, fiscal rules and independent fiscal institutions, balanced economic growth, European integration and systemic approach, and finally the importance of democracy versus autocracy in all post-socialist experiences including China and Hungary. Last but not least, the conclusive words of János Kornai may be considered as his intellectual testimony, in which he addresses overarching themes of his long intellectual journey (from his 1955 PhD thesis Overcentralisation, until now) and offers some perspective about the way his work might be extended and deepened in the future by the new generation of economist."—Mehrdad Vahabi
Other Titles in POLITICAL SCIENCE / Political Economy
Other Titles in Political economy