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have to queue for it (theoretically, in a market economy such a situation would generally, but not always, be eliminated by price increases that would discourage buyers). Queueing involves a considerable cost in terms of time spent in the queue for consumers. In the economies which Kornai studied, this could have involved several hours a day spent in queues just to obtain basic products like
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shortages are both horizontal and vertical which means that they affect both the supply of intermediate goods as well as related complementary goods. Furthermore, the shortages are occasionally replaced by situations of surplus "slack" when too much of a particular good is supplied (often due to the mis-timing of production orders which arrive too late).
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Kornai distinguishes between several different possible actions and individual outcomes that can occur in a shortage economy. It could happen that the item sought by the consumer is available in the shop, but there may be a limited amount of a sought-after good available, which means that consumers
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in the late 1970s (and which continued during the 1980s) were not the consequences of planners' errors, but rather systemic flaws. A shortage of a certain item does not necessarily mean that the item is not being produced; rather, it means that the amount of the good demanded exceeds the amount
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According to Kornai, shortage economies share several common characteristics. They all experience frequent, intensive and chronic shortages. These are general in nature; that is, they occur in all spheres of the economy (consumer goods and services, means of production and producer goods). The
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will enable him to purchase the actual good he is seeking at a future time. This has the effect of increasing demand for other goods simply because they are there and can lead to the spread of shortages throughout the economy.
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which encourages consumers to demand a higher amount than is supplied. However, Kornai concentrated on the role of reduced supply and argued that this was the underlying cause of
Eastern European shortages during the 1980s.
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Another possible situation is that the item is simply not available. In that case, the buyer can either abandon the intent of purchase completely, spend additional time (an implicit economic cost) in further
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as consumers are unable to fully utilize their current purchasing power. The institutional outcomes involve the so-called
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in which production units under a planned economy form expectations of always being bailed out by central authorities,
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for which potential buyers had to sign up months or even years in advance. An example is the wait in the 1980s
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on the part of the planners who blame the shortages on the fact that consumers demand "wrong things" and in
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for the right to purchase an apartment which could take as long as ten or fifteen years.
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Kornai's Soft Budget
Constraint and the Shortage Phenomenon: A Criticism and Restatement
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David Lipton and
Jeffrey Sachs 'The Consequences of Central Planning in Eastern Europe'
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Transition
Economies: Political Economy in Russia, Eastern Europe, and Central Asia
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Transition
Economies: Political Economy in Russia, Eastern Europe, and Central Asia
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Comparing and assessing economic systems, Shortage and
Inflation: The Phenomenon
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Planning
Shortage and Transformation. Essays in Honor of Janos Kornai
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Centrally-planned economies with chronic shortages of various goods
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164:(1980), Kornai argued that the chronic shortages seen throughout
473:, PPT (PowerPoint file presentation) at West Virginia University
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On overview and critique of Kornai's account can be found in
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Five-year plans for the national economy of the Soviet Union
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The common results of these shortages for consumers are
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Collectivization in the People's
Republic of Poland
49:. Unsourced material may be challenged and removed.
416:, in: Economics of Planning, Vol. 19. 1985. No. 1.
241:between goods which are imperfect substitutes and
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344:but its sources remain unclear because it lacks
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422:, Cambridge, Massachusetts: MIT Press, 2000
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685:Wage reform in the Soviet Union, 1956–1962
578:Economy of the People's Republic of Poland
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145:, who used this term to criticize the old
141:) is a term coined by Hungarian economist
710:Economic System of Socialism (GDR, 1970s)
680:New Economic Policy (Soviet Union, 1920s)
477:János Kornai 'The Soft Budget Constraint'
375:Learn how and when to remove this message
226:hope that selling the unneeded item later
109:Learn how and when to remove this message
426:Myant, Martin; Drahokoupil, Jan (2010),
700:New Economic Mechanism (Hungary, 1960s)
488:Myant, Martin; Jan Drahokoupil (2010).
1561:
1513:English historical school of economics
1467:Structure–conduct–performance paradigm
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695:Kosygin reform (Soviet Union, 1960s)
624:Collectivization in the Soviet Union
392:, Princeton University Press, 1992,
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200:. Other consumer goods had explicit
47:adding citations to reliable sources
18:
563:Economy of Communist Czechoslovakia
498:: Wiley-Blackwell. pp. 19–23.
13:
299:Second economy of the Soviet Union
277:Consumer goods in the Soviet Union
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715:Perestroika (Soviet Union, 1980s)
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705:New Economic System (GDR, 1960s)
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305:The Use of Knowledge in Society
261:resulting from pent up demand.
169:supplied at a given price (see
34:needs additional citations for
1533:Historical school of economics
182:Definition and characteristics
1:
573:Goulash (Hungarian) Communism
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175:government-enforced low price
1477:Theory of two-level planning
972:New institutional economists
216:for the good, or purchase a
7:
957:Edward Lawrence Wheelwright
654:Collectivization in Romania
634:Collectivization in Ukraine
619:Collectivization in Hungary
568:Economy of the Soviet Union
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173:). This may be caused by a
147:centrally-planned economies
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639:Land Reforms (Afghanistan)
166:Central and Eastern Europe
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1548:Post-Keynesian economics
1528:French historical school
800:Institutional economists
649:Three Year Plan (Poland)
330:This article includes a
1589:Criticisms of economics
1523:Evolutionary psychology
1387:Conspicuous consumption
793:Institutional economics
690:New Course (GDR, 1950s)
673:Pre-dissolution reforms
558:Economy of East Germany
359:more precise citations.
251:paternalistic behaviour
1584:Criticism of socialism
1518:Evolutionary economics
1360:Key concepts and ideas
1316:Donald Angus MacKenzie
942:George W. Stocking Sr.
862:John Kenneth Galbraith
731:Eastern Bloc economies
544:Eastern Bloc economies
282:Eastern Bloc economies
247:soft budget constraint
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130:
1508:Development economics
1417:Hiding hand principle
1407:Effective competition
1278:Economic sociologists
1045:Behavioral economists
907:Wesley Clair Mitchell
459:at Collegium Budapest
453:at Harvard University
404:Economics of Shortage
162:Economics of Shortage
1437:Market concentration
1402:Countervailing power
1208:Sendhil Mullainathan
1035:Oliver E. Williamson
867:Walton Hale Hamilton
812:Clarence Edwin Ayres
583:Economy of Lithuania
239:forced substitutions
131:gospodarka niedoboru
43:improve this article
1487:Veblenian dichotomy
1397:Conventional wisdom
1392:Conspicuous leisure
1382:Bounded rationality
1372:Administered prices
1193:Brigitte C. Madrian
995:Steven N. S. Cheung
877:Albert O. Hirschman
872:Orris C. Herfindahl
593:Economy of Moldavia
496:Hoboken, New Jersey
430:, Wiley-Blackwell,
1503:Cultural economics
1367:Accelerator effect
1183:George Loewenstein
1123:Catherine C. Eckel
842:John Maurice Clark
807:Werner Abelshauser
410:Gomulka, Stanislaw
332:list of references
58:"Shortage economy"
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1377:Barriers to entry
1243:Robert J. Shiller
1203:Matteo Motterlini
947:Lars PĂĄlsson Syll
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588:Economy of Latvia
505:978-0-470-59619-7
437:978-0-470-59619-7
390:Socialist economy
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171:supply and demand
160:In his monograph
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1574:Economic systems
1569:Marxism–Leninism
1462:Shortage economy
1447:Market structure
1412:Herfindahl index
1336:Laurent Thévenot
1331:Richard Swedberg
1326:Lynette Spillman
1311:Mark Granovetter
1296:James S. Coleman
1268:Georg Weizsäcker
1263:Robert W. Vishny
1228:Klaus M. Schmidt
1178:Jeffrey R. Kling
1073:Douglas Bernheim
962:Erich Zimmermann
952:Thorstein Veblen
932:Herbert A. Simon
927:François Simiand
902:Jesse W. Markham
882:Geoffrey Hodgson
822:Shimshon Bichler
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724:Related concepts
607:Collectivization
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257:terms repressed
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1422:Hirschman cycle
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1351:Viviana Zelizer
1321:Joel M. Podolny
1272:
1198:Gary McClelland
1163:Daniel Kahneman
1158:David Ryan Just
1153:Charles A. Holt
1133:Urs Fischbacher
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1594:Eastern Bloc
1482:Veblen goods
1461:
1442:Market power
1286:Jens Beckert
1258:Amos Tversky
1233:Eldar Shafir
1098:Kay-Yut Chen
1025:Mancur Olson
1000:Ronald Coase
897:Hunter Lewis
887:János Kornai
746:Stakhanovite
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41:Please help
36:verification
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1457:Satisficing
1168:Ariel Kalil
1063:Nava Ashraf
1010:Avner Greif
817:Joe S. Bain
357:introducing
1563:Categories
1143:Uri Gneezy
1128:Armin Falk
1113:Paul Dolan
1058:Dan Ariely
313:References
69:newspapers
1248:Uwe Sunde
1068:Ofer Azar
551:Economies
259:inflation
135:Hungarian
1579:Scarcity
365:May 2016
265:See also
233:Outcomes
751:Comecon
741:Sovkhoz
353:improve
288:Kolejka
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