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Dynamism, Rivalry, and the Surplus Economy – Two Essays on the Nature of Capitalism - Oxford Scholarship Online
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Dynamism, Rivalry, and the Surplus Economy: Two Essays on the Nature of Capitalism

János Kornai


This book examines capitalism as an economic system and in comparison to socialism. The book explains a 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 chapters of this book explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the ... More

Keywords: capitalism, socialism, economy of surplus, demand, supply, labor

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780199334766
Published to Oxford Scholarship Online: January 2014 DOI:10.1093/acprof:oso/9780199334766.001.0001


Affiliations are at time of print publication.

János Kornai, author
Harvard University and Corvinus University of Budapest