Kornai--What the Change from Socialism to Capitalism--student

Kornai--What the Change from Socialism to Capitalism--student

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Comparative Economic Systems Kornai: "What the Change of System from to Capitalism Does and Does Not Mean" Grand Valley State University Dr. Daniel Giedeman
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First three blocks sum up the fundamental features of each system: Characteristics of political power Distribution of property rights Coordination mechanisms These determine the fourth block Behavior typical of economic actors Which in turn leads to the fifth and final block Typical economic phenomena
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A Few Notes/Points Democracy is not a necessary condition for capitalism In modern capitalism, state-owned and nonprofit organizations can play a role—they just must not gain a dominant position All economies experience departures from the idealized Walrasian equilibrium, but the chronic, general shortage economy is only characteristic of the socialist system, while chronic unemployment is characteristic of the capitalist system Capitalism does not need to be imposed on a society collectivization of agriculture under Stalin using brute force
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Kornai--What the Change from Socialism to Capitalism--student

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