Economics and Systemic Changes in Hungary, 1945–96

Szamuely, László; Csaba, László

doi:10.4324/9780203428788_chapter_4

Cited by 5 publications

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“…The result was a growth of worker cooperatives and a substantial non-state sector of the economy. While Hungary sought a fine balance between planning and a market, it experienced significant swings back and forth between what they saw as the centralising tendency of planning and the decentralising pull of markets (Szamuely and Csaba 1998).…”

Section: Background To Economic Reformsmentioning

confidence: 99%

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From Belgrade to Beijing

Boer¹

2021

WRPE

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This study offers a comparative analysis of economic reforms in Eastern Europe and China. Some CMEA countries—especially Yugoslavia and Hungary—undertook reforms in the 1960s, while China launched its reform and opening-up in 1978. In light of the lessons learned—concerning planning, markets, ownership of means of production and liberation of productive forces, and the interaction of relations and forces of production during socialist construction—it is possible to provide a systematic comparison. After providing background to the reforms, the comparison has four steps: (1) de-linking a market economy from a capitalist system, and the concomitant de-linking of a planned economy from a socialist system; (2) whether a market economy is a neutral instrument usable in any system, or whether it is a component shaped by the system of which it is a part; (3) planning and markets within a socialist system; (4) the relationship between ownership of the means of production (and control over the forces of production) and liberation of productive forces in the process of socialist construction. The fourth topic leads to the more foundational question of the dialectical interactions between relations and forces of production, since on this matter the economic definition of socialism turns.

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Section: Background To Economic Reformsmentioning

confidence: 99%

“…5. Again, there are many studies of the Hungarian experience (Brus and Laski 1989, 61-72;Nove 1991, 162-175;Swain 1992;Szamuely and Csaba 1998;Bockman 2011, 105-132). 6.…”

Section: Notesmentioning

confidence: 99%

From Belgrade to Beijing

Boer¹

2021

WRPE

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“…Berliner originated the expression “ratchet effect” to denote this phenomenon. While Kornai also acknowledges the relative autonomy of socialist managers, he built upon the assumption of a “command economy” and not a “bargaining economy” (see Szamuely and Csaba 1998: 185).…”

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confidence: 99%

Soft Budget Constraints and Predatory States

Vahabi

2012

Review of Radical Political Economics

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The concept of the soft budget constraint (SBC) was initially formulated by economist Janos Kornai in the context of socialist economies. I argue that the SBC can be regarded as the political economy of a predatory state in both the so-called socialist and capitalist economies. The hard budget constraint (HBC) is not related to an ideal competitive market economy but to a household level budget constraint, particularly by salaried members of the population in both types of economies. JEL codes: D20, E20, P2, P5

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“…Joseph Berliner used the term ‘ratchet effect’ () to describe management behaviour in socialist firms: despite a host of inducements to over‐fulfil their production plans, managers are not particularly eager to exceed the quotas because they fear their superiors will be more demanding in setting future targets. Kornai also acknowledged the relative autonomy of socialist managers, but he builds on the assumption of a ‘command economy’ rather than a ‘bargaining economy’ (see Szamuely and Csaba, , p. 185).…”

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confidence: 99%

Soft Budget Constraint Reconsidered

Vahabi

2011

Bulletin of Econ Res

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This paper demonstrates that Kornai's original concept of the soft budget constraint (SBC) as a theoretical innovation in micro-theory disguises income redistributions that are essentially macroeconomic relationships. The SBC also postulates a competitive market economy as the benchmark of hard budget constraint (HBC) and efficiency. A recent formal theory explains the SBC as a component of profit-maximizing strategic behaviour. From this perspective, the SBC can be integrated into the new microeconomics, but it loses its specific institutional connotation and its macroeconomic dimension. The SBC is thus included in ubiquitous market-type relationships, particularly complete (optimal) contractual arrangements.

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Economics and Systemic Changes in Hungary, 1945–96

Cited by 5 publications

References 0 publications

From Belgrade to Beijing

From Belgrade to Beijing

Soft Budget Constraints and Predatory States

Soft Budget Constraint Reconsidered

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