TY - JOUR AU - Kornai, János PY - 2016/06/08 Y2 - 2024/03/28 TI - So what is Capital in the Twenty-First Century? Some notes on Piketty’s book JF - Journal of Public Governance JA - PG VL - 36 IS - 2 SE - Articles DO - 10.15678/ZP.2016.36.2.01 UR - https://publicgovernance.pl/zpub/article/view/385 SP - 7-33 AB - <p>According to János Kornai, despite the undeniable original contribution of Capital in the Twenty-First Century, its author offers a partial and distorted analysis of the functioning of the capitalist system, which leads him to mistaken conclusions and to a very limited repertoire of recommendations for politicians. The Hungarian economist criticizes Thomas Piketty particularly for the omission of such aspects as the dynamics of capitalism, competition as a stimulus to act, technical progress and its impact on all aspects of modern human life. He illustrates his views with numerous examples taken from the work of other economists.</p> ER -