This article needs additional citations for verification .(October 2021)
21 January 1928
|Died||18 October 2021 93)(aged|
|Contributions|| Theory of two-level planning |
|Information at IDEAS / RePEc|
János Kornai (21 January 1928 – 18 October 2021) was a Hungarian economistnoted for his analysis and criticism of the command economies of Eastern European communist states. He also covered macroeconomic aspects in countries undergoing post-Soviet transition. He was emeritus professor at both Harvard University and Corvinus University of Budapest. Kornai was known to have coined the term shortage economy to reflect perpetual shortages of goods in the centrally-planned command economies of the Eastern Bloc.
Kornai was born János Kornhauser on 21 January 1928 in Budapest in a well-to-do Hungarian-Jewish family.The family spent time in an internment camp during the Nazi occupation of Hungary. His father was sent for slave labour and later killed at Auschwitz. Kornai studied philosophy for two years at Pázmány Péter University (now Eötvös Loránd University) in Budapest.
Kornai gained his knowledge of economics on his own, and later held a candidate degree in the field from the Hungarian Academy of Sciences. He wrote that he chose to be an economist after reading Marx's Das Kapital .He started working on Szabad Nép, the Hungarian Communist Party newspaper, and rose to be editor for news related to the economy, but he was fired for lack of Communist convictions in April 1955.
From 1958 onwards, Kornai received many invitations to visit foreign institutions, but was denied a passport by the Hungarian authorities and forbidden to travel until 1963, after political restrictions had begun to ease.
From 1967 to 1992, Kornai was a research professor at the Institute of Economics, Hungarian Academy of Sciences. He became a corresponding member (1976), then a full member (1982) of the Hungarian Academy of Sciences. Kornai joined the faculty of Harvard University in Cambridge, Massachusetts, in 1986 and was named the Allie S. Freed Professor of Economics in 1992. He retired from Harvard in 2002. He was a Distinguished Research Professor at Central European University, and since 2011 Professor Emeritus at Corvinus University of Budapest.[ citation needed ] He was a Member of the Board of the Hungarian National Bank (central bank) until 2001. In 2018, the Corvinus University of Budapest organized a full-day conference in honour of his 90th birthday. In 2018, he was elected an honorary member of the Széchenyi Academy of Literature and Art.
János Kornai died on 18 October 2021, aged 93.[ where? ]
In the late 1950s, he was among those who initiated the use of mathematical methods in economic planning. He elaborated the theory of two-level planning with Tamás Lipták and directed the first large-scale, economy-wide, multi-level planning project. Professor Kornai's early work Overcentralization (1953) created a stir in the West and conveyed for the first time his disillusionment with communist central planning.[ citation needed ]
His 1971 book Anti-Equilibrium criticizes neoclassical economics, particularly general equilibrium theory. His 1980 book Economics of Shortage is perhaps his most influential work. It argues that the chronic shortages seen throughout Eastern Europe in the late 1970s and continuing in the 1980s were not the consequences of planners' errors or wrong pricing, but of systemic flaws. In his 1988 book The Socialist System, The Political Economy of Communism, he argued that the command economy based on unchallenged control by a Marxist–Leninist communist party leads to a predominance of bureaucratic administration of state firms, through centralized planning and management, and the use of administrative pricing to eliminate the effects of the market. This brings individual responses to the incentives of the system, culminating in observable and inescapable economic phenomena known as the shortage economy. Kornai remained highly sceptical of efforts to create market socialism.[ citation needed ] His later works, including The Road to a Free Economy (1990), Highway and Byways (1995), Struggle and Hope (1997) and Welfare in Transition (2001), deal with macroeconomic aspects and the interaction between politics and economic policy in the period of economic transition in the post-Soviet states. He later led a comprehensive research project, Honesty and Trust in the Light of Post-Socialist Transition at Collegium Budapest.[ citation needed ]
Kornai was a member of the Royal Swedish Academy of Sciences. [ dead link ] In 2016 he was elected as a foreign associate of the National Academy of Sciences.
In 2007 Kornai published a book of memoirs, By Force of Thought, covering his research and the social and political environments in which he did his work.New editions of some of Kornai's major works appeared in Hungarian from a Bratislava publisher in 2012.
|Wikiquote has quotations related to: János Kornai|
Eötvös Loránd University is a Hungarian public research university based in Budapest. Founded in 1635, ELTE is one of the largest and most prestigious public higher education institutions in Hungary. The 28,000 students at ELTE are organized into nine faculties, and into research institutes located throughout Budapest and on the scenic banks of the Danube. ELTE is affiliated with 5 Nobel laureates, as well as winners of the Wolf Prize, Fulkerson Prize and Abel Prize, the latest of which was Abel Prize winner László Lovász in 2021.
Corvinus University of Budapest is a university in Budapest, Hungary. Corvinus University of Budapest is a research university oriented towards education. The university currently has an enrollment of approximately 11,500 students, offering educational programmes in business administration, economics, and social sciences, operating in Budapest and Székesfehérvár since 1948.
"Shortage economy" is a term coined by Hungarian economist János Kornai, who used this term to criticize the old centrally-planned economies of the communist states of the Eastern Bloc.
Jenő Fock was a Hungarian Communist politician who served as Chairman of the Council of Ministers of the People's Republic of Hungary from 1967 to 1975.
In economics, a shortage or excess demand is a situation in which the demand for a product or service exceeds its supply in a market. It is the opposite of an excess supply (surplus).
Stanisław Gomułka is a Polish born economist, from 1970 up to 2005 a reader in Economics at the London School of Economics, a visiting professor or research fellow at several US universities, also at Aarhus university, Netherlands Institute for Advanced Studies and the Central European university, in the years 1989-2002 advisor to the Ministry of Finance and National Bank of Poland, from 2013 a member of the Polish Academy of Sciences. He received the Order of Polonia Restituta in 2014.
Rajk College for Advanced Studies is an educational institution offering advanced courses in the fields of economics, business and social sciences. The College is a self governing community of about 100 selected students living together. It was founded in 1970 by the students of the Corvinus University of Budapest, with Attila Chikán as its first principal. It is the oldest existing institution of the kind in Hungary, giving a model to a number of later colleges in Hungary and abroad, such as the Bibó István College for Advanced Studies in Hungary or the Mikó Imre College for Advanced Studies in Romania. The college was named in 1974 after László Rajk, a leading Hungarian Communist, who was proclaimed enemy of the regime and executed in a show trial in 1949. The idea behind the naming of the college was to express criticism towards the system at the time. In December, 2018 the college decided to change its name and dropped the word László.
Vladimer Papava is a professor of economics at the Ivane Javakhishvili Tbilisi State University, an Academician at the Georgian National Academy of Sciences (2013), the former Rector of the Ivane Javakhishvili Tbilisi State University, and the former Minister of Economy of Georgia.
Grzegorz Witold Kołodko is a distinguished professor of economics. A key architect of Polish economic reforms. He is the author of New Pragmatism original paradigmatic and heterodox theory of economics. University lecturer, researcher, the author of numerous academic books and research papers. As Deputy Premier and Minister of Finance of Poland in 2002-2003 he played a leading role in achieving the entry of Poland into the European Union. Holding the same position in 1994-1997, Kolodko led Poland to the OECD. The founder and Director of TIGER – Transformation, Integration and Globalization Economic Research at the Kozminski University in Warsaw. Consultant to such international organizations as the IMF, World Bank, UN, and the OECD. Member of the European Academy of Arts, Sciences and Humanities, Member of Academia Europaea. Foreign Member of Russian Academy of Sciences. Non-resident Senior Fellow, Chongyang Institute for Financial Studies, Renmin University of China, Beijing, Professor HUST, Huangzhou University of Science and Technology, Wuhan; Distinguished Professor of Emerging Markets Institute, Beijing Normal University, Beijing. He is a globetrotter who visited 170 countries and Antarctica, and a marathon runner who has completed 50 runs.
Géza Jeszenszky is a Hungarian politician and associate professor, former Minister of Foreign Affairs and a former ambassador to the United States. He was ambassador of Hungary to Norway and Iceland from 2011 to 2014.
Budapest Business School (BBS) were a public university but since 1st of sept 2021 It’s been working as a Private business school specializing in business studies and social sciences located in Budapest, Hungary. Founded in 1857 by merchants and bankers of Austria-Hungary in order to establish the economic vocational training of higher education in the empire and in Central Europe. It is the oldest public business school in the world, and second oldest among business schools, after the ESCP Europe.
Imre Dimény was a Hungarian agrarian engineer and Communist politician, who served as Minister of Agriculture and Food between 1967 and 1975. He was a member of the Hungarian Academy of Sciences.
Attila Chikán is a Hungarian economist, university professor, Full Member of the Hungarian Academy of Sciences and Foreign Member of the Royal Swedish Academy of Engineering Sciences. His research areas are national and firm competitiveness, business policy, and logistics. He is Founding Principal of Rajk László College for Advanced Studies. Minister of Economic Affairs in 1998-99, Rector of Corvinus University of Budapest. Currently he is Professor Emeritus and Director, Competitiveness Research Center of CUB.
Tamás Bauer is a Hungarian economist, politician and member of the National Assembly (MP) from June 28, 1994 to May 14, 2002. His research areas are the Eastern European planned economies.
Ferenc Bartha was a Hungarian economist, who served as the last governor of the Hungarian National Bank during the Communist regime.
Gyula Koi is a Hungarian legal scholar and lecturer. His main research fields are administrative law, and theory of public administration. His Chinese name is Guo Yi.
Imre (Emmerich) Menyhay was a Hungarian-Austrian economist, pedagogue, sociologist, and psychologist of economics. His fields of research are pedagogy, economic psychology and economic sociology development. His key works are Management, Business, Ethics - Social Theory and Background by the Application of Economic Sociology, dealing with social theoretical economic sociology, and Homo Oeconomicus And Unfinished Creation - The Analytical Background by Economic Psychology and Its Application, dealing with psychoanalytical economic psychology.
János Horváth was a Hungarian economist and politician, member of the National Assembly (MP) from 1945 to 1947, and later from 1998 to 2014. He fled to the United States after the failure of the Hungarian revolution of 1956 becoming a college professor and, later, a candidate for the United States House of Representatives.
Erzsébet Nováky 2005. Academic Award. Erzsébet Nováky, Doctor of Economics, Professor, dedicated futurist since 1970, Head of the Department of Futures Research at the University of Economics 1992-2012. Corvinus University of Budapest, professor emeritus (2015).
Előd Takáts is an economist, university professor, senior economist at the Bank for International Settlements, and visiting fellow at the London School of Economics and Political Science. Rector of Corvinus University of Budapest since 1 August 2021.