Hungarian economist János Kornai first used the metaphor of a single path to postsocialist transition in his earlier book, The Road to a Free Economy. The new metaphor that frames this collection of recent studies reflects a broader perspective and understanding of the complexities of transition: every highway and byway leads eventually to capitalism, Kornai observes, but to what kind, how fast, and at what cost? Who wins and who loses?Kornai draws from his experiences of Hungarian reform as well as from countries of the former Soviet Union to make several major points. The first three studies describe what went wrong in countries that tried to mix elements of planned and market economies. Efforts made by communist countries to introduce market socialism (the "middle road") contained an inherent contradiction between the logic of socialism and the logic of a free enterprise system, and were doomed to failure.In the studies that follow, Kornai analyzes the ongoing dilemmas. The transition from communism to free enterprise is filled with daunting hurdles; it requires no less than redefining ownership, changing values concerning the distribution of wealth, transferring the control of political power, creating financial institutions and enforcing financial discipline, and making deep economic sacrifice. Kornai closes with an overall survey of postsocialist transition, describing the stages that countries tend to go through, that will be particuarly useful to scholars of comparative economic systems.

Highway and Byways: Studies on Reform and Postcommunist Transition

Business & Money

Kornai, Professor of Economics Janos

Kornai, Jnos

Kornai, Professor of Economics J Nos

Economics

MIT Press]

This major book presents an objective and penetrating economic analysis of stabilization and reform in Eastern Europe, combined with a compassionate plea for individual rights and solidarity.
Janos Kornai - one of the most famous Hungarian economists of his generation - focuses on two main issues: first, the problems of stabilization and adjustment, which are painful but necessary conditions of sustainable growth and second, the reform of the 'premature welfare state' of Eastern European countries, which is disproportionately large in relation to the resources available and which was hitherto managed in a highly centralized, bureaucratic and paternalistic way.
Struggle and Hope goes beyond most other books on the transition process by placing considerable emphasis on the understanding of the ethical implications and the historical roots of each problem, and also the political conditions and consequences of change. Although economic efficiency is extremely important, it is not the exclusive criterion; ethical principles of individual sovereignty and solidarity must also receive particular attention.
Professor Kornai s insightful analysis will become required reading for all those concerned with the process of post-socialist transition.

Struggle and Hope

Kornai, János

Edward Elgar Publishing

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