Dynamism, Rivalry, and the Surplus Economy: Two Essays on the Nature of Capitalism

In Dynamism, Rivalry, and the Surplus Economy, János Kornai examines capitalism as an economic system and in comparison to socialism. Kornai explains his 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 ...