According to Janos Kornai, one of the most important distinguishing features of state socialist economies is the absence of a market principle for determining wages and prices.

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Janos Kornai, a prominent economist who studied socialist economies, identified the absence of market mechanisms for determining wages and prices as a key characteristic of state socialist economies, where the government or central authority typically sets these values instead.

According to Janos Kornai, One of the Most Important Distinguishing