- Title Pages
- Dedication
- Figures
- Tables
- Preface
- 1 The Subject and Method
- 2 The Antecedents and Prototypes of the System
- 3 Power
- 4 Ideology
- 5 Property
- 6 Coordination Mechanisms
- 7 Planning and Direct Bureaucratic Control
- 8 Money and Price
- 9 Investment and Growth
- 10 Employment and Wages
- 11 Shortage and Inflation: The Phenomena
- 12 Shortage and Inflation: The Causes
- 13 Consumption and Distribution
- 14 External Economic Relations
- 15 The Coherence of the Classical System
- 16 The Dynamics of the Changes
- 17 The “Perfection” Of Control
- 18 Political Liberalization
- 19 The Rise of the Private Sector
- 20 Self‐Management
- 21 Market Socialism
- 22 Price Reforms
- 23 Macro Tensions
- 24 Concluding Remarks
- References
- Bibliography on Postsocialist Transition
- Author Index
- Subject Index
Shortage and Inflation: The Phenomena
Shortage and Inflation: The Phenomena
- Chapter:
- (p.228) 11 Shortage and Inflation: The Phenomena
- Source:
- The Socialist System
- Author(s):
János Kornai (Contributor Webpage)
- Publisher:
- Oxford University Press
Shortage is explained basically in terms of the inherent characteristics of the classical socialist system. The examination concentrates on the system's constant, lasting features, with factors influencing short‐term fluctuations in shortage phenomena covered, at most, in passing. Attention is trained on parts of the phenomena that distinguish socialism from other systems (primarily capitalism), and the focus in the analysis of production is mainly on the publicly owned sector. The different sections of the chapter are shortage phenomena and the shortage economy; the process of demand adjustment; horizontal and vertical shortage; shortage and surplus; market regimes: the buyer's and seller's market; normal shortage and normal surplus; and open, declared, and hidden inflation.
Keywords: classical socialism, demand adjustment, inflation, market regimes, shortage, socialist systems, surplus
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- Title Pages
- Dedication
- Figures
- Tables
- Preface
- 1 The Subject and Method
- 2 The Antecedents and Prototypes of the System
- 3 Power
- 4 Ideology
- 5 Property
- 6 Coordination Mechanisms
- 7 Planning and Direct Bureaucratic Control
- 8 Money and Price
- 9 Investment and Growth
- 10 Employment and Wages
- 11 Shortage and Inflation: The Phenomena
- 12 Shortage and Inflation: The Causes
- 13 Consumption and Distribution
- 14 External Economic Relations
- 15 The Coherence of the Classical System
- 16 The Dynamics of the Changes
- 17 The “Perfection” Of Control
- 18 Political Liberalization
- 19 The Rise of the Private Sector
- 20 Self‐Management
- 21 Market Socialism
- 22 Price Reforms
- 23 Macro Tensions
- 24 Concluding Remarks
- References
- Bibliography on Postsocialist Transition
- Author Index
- Subject Index
