This book examines the intellectual legacy of economist Janos Kornai and explores his unique contribution to economics. It addresses the key themes within Kornai's work and shows how his ideas relate to the leading figures within economics. After highlighting the influence of Marx and Hayek on Kornai, his major contribution to comparative economics and analysis of capitalist and socialist economic systems is examined. How they fed into his conceptualization of hard and soft budget constraints and complemented his work on economic theory, in particular debates around Walrasian and Marshallian equilibrium theory, is also discussed.

This book offers insight into the work of Janos Kornai and his impact upon economics. It will be of relevant to students and researchers interested in the history of economic thought and comparative economics.

Highlights Janos Kornai's major contribution to comparative economics and the analysis of economic systems Offers insight into the work of Kornai and his impact upon economics Explores Kornai's work on economic policy, particularly in relation to budget constraints and equilibrium theory

Autorentext

Mehrdad Vahabi is Professor of Economics at University Sorbonne Paris Nord.

Klappentext

"Janos Kornai was one of the foremost economic thinkers in the world. It is a great pity that his work didn't receive quite as much attention as it deserved. I am delighted that Professor Mehrdad Vahabi has written this beautiful book about the importance of Kornai's contributions. We have reason to be grateful to him."

• Amartya Sen (Nobel Laureate 1998, Harvard University)

Janos Kornai was the world's leading scholar on the differences between socialist and capitalist economies, and no one knows his work better than Mehrad Vahabi. In this volume, Professor Vahabi collects many of his important papers on Kornai's contributions and offers an introduction that ties them all together. The book will be of great value to anyone seeking a deep understanding of Kornai's legacy.

• Eric Maski (Nobel Laureate 2007, Harvard University)

This book examines the intellectual legacy of economist Janos Kornai and explores his unique contribution to economics. It addresses the key themes within Kornai's work and shows how his ideas relate to the leading figures within economics. After highlighting the influence of Marx and Hayek on Kornai, his major contribution to comparative economics and analysis of capitalist and socialist economic systems is examined. How they fed into his conceptualization of hard and soft budget constraints and complemented his work on economic theory, in particular debates around Walrasian and Marshallian equilibrium theory, is also discussed.

This book offers insight into the work of Janos Kornai and his impact upon economics. It will be of relevant to students and researchers interested in the history of economic thought and comparative economics.

Mehrdad Vahabi is Professor of Economics at University Sorbonne Paris Nord.

Inhalt

Chapter 1. Janos Kornai's intellectual legacy: An Introduction.- Section 1: General assessment.- Chapter 2. Introduction to Section 1.- Chapter 3. In Janos Kornai's Memory.- Chapter 4. Introduction: A special issue in honoring Janos Kornai.- Chapter 5. Socialism and Kornai's revolutionary perspective.- Chapter 6. Janos Kornai's Intellectual Legacy.- Section 2: Kornai on Marx and Austrian economics.- Chapter 7. Introduction to Section 2.- Chapter 8. Commissioned editorial commentary: exchange between Amartya Sen and Janos Kornai on Karl Marx.- Chapter 9. The Austro-Hungarian Convergence through the Writings of Janos Kornaï.- Section 3: Kornai on Walrasian and Marshallian equilibrium theory.- Chapter 10. Introduction to Section 3.- Chapter 11. Janos Kornai and General Equilibrium Theory.- Chapter 12. The Relevance of the Marshallian Concept of Normality in Interior and in Inertial Dynamics as Revisited by G. Shackle and J. Kornai.- Section 4: Kornai on soft and hard budget constraints.- Chapter 13. Introduction to Section 4.- Chapter 14. The Soft Budget Constraint: A Theoretical Clarification.- Chapter 15. Soft budget constraint reconsidered.- Chapter 16.Soft budget constraints and predatory states.- Chapter 17. A Last Word.