What is the relationship between central planning, pervasive shortages, and soft budget constraints under socialism? In …-world socialism. In doing so, our goal is to reframe Kornai’s contributions to the political economy of socialism by focusing on the …

What is the relationship between central planning, pervasive shortages, and soft budget constraints under socialism? In …-world socialism. In doing so, our goal is to reframe Kornai’s contributions to the political economy of socialism by focusing on the …

Austrian theory of dynamic efficiency are consistent to enhance economic development. Their argument focuses on two issues: (a …) the existence of circular reasoning in the Austrian theory of dynamic efficiency, and (b) dynamic efficiency and full …-communist criteria, the Austrian theory of dynamic efficiency argues that to impede private property rights is to remove the most …