摘要:

SUMMARYThe present paper is concerned with the relationship between the distribution of the tax burden on the one hand, and (a) the propensity to save as well as (b) the incentive to invest in underdeveloped economies on the other hand. The approach is one of analyzing the effects of a progressive income tax in the context of Duesenberry'stheory of the consumption function. This leads us to the proposal of a system of taxation with high progressive rates on the incomes of individuals coupled with low rates, or no tax at all, on the incomes of corporations and on unrealized capital gains.

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02479.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

摘要:

SUMMARYPower spectra and cross‐spectra of Japanese economic annual series since 1879 or 1887 are estimated. The power spectral estimates suggest that long swings and business cycles are meaningful phenomena in many of the time series.Reference cycles of long swings and business cycles are determined separately from the remodulated series of the rate of change of the individual annual series at the frequencies of 1/25 cycle per year and of 1/6.5 cycle per year. They provide valuable information on Japanese economic fluctuations since the 1880's. The Rostowian stages of growth are considered in terms of these reference cycles.The cross‐spectral estimates clarify the lead‐lag relationships among the series. We find three key factors, loans and discounts of all banks, exports, and government consumption leading the other series and driving the rapid growth. Mechanisms of growth processes are explained by our lead‐lag relationships. The transfer of labour forces among the industries and some characteristics of investment and private consumption are also considered by means of the cross‐spectral

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02480.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

摘要:

SUMMARYThe traditional economic theory seems to be appropriate to evaluate the economic conditions in underdeveloped countries. However, as the propositions for development policies diverge, neither the classical equilibrium‐analysis nor the Harrod‐Domar theory of economic growth are very useful for a long‐term development policy. The present article shows, where modern economic theory is helpful in performing rational development policies, and where for scientific reasons its feasibility remains limited.Where models of the recent theory of economic growth are used, a time‐preference‐function or a general objective‐function must be introduced; models of the neoclassical theory of economic growth can be used without these functions. As soon as the function is maximized under constraints, a programming problem results. As can be seen here, economic planning is nothing but a special case of economic programming: every consistent development plan can be explained in terms of a decision model derived from the numerical values of the endogenous variables. As it is impossible to formulate a target‐function, the problem must be solved by the conflict‐models of the theory of games.These methods render the definition of optimal allocation‐processes in economic planning feasible. But application to non‐repetitive events is impossible; then propositions for rational behaviour have to be given by the methods of heuristic programming. Economic theory is only applicable to repeated events.The increasing specialization in all fields of science leads, as recent developments show, to a strong differentiation of the scopes of objects; on the other hand, the methods of solving problems converge remarkably. Concerning the methodologies, the dissimilarities between arts and sciences today are

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02481.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

摘要:

SUMMARYAs a measure of society's marginal rate of substitution between consumption in consecutive years, the STP rate is basic to evaluating public investment alternatives. This paper derives the STP rate as a function of two ‘observable parameters’ (the growth rates of population and consumption) and three ‘policy parameters’ (the ‘pure’ time‐preference rate, the elasticity of the utility‐consumption function, and a population parameter). The equality of the rate of growth and the STP rate is shown to be only a very special case. The STP rate is unaffected by the relative shares of different income groups as long as the distribution re

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02482.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

摘要:

SUMMARYSchumpeter's sociological conception remained remarkably unchanged and consistent over his life. In his early publicationWesen und Hauptinhalt der theoretischen Nationalökonomiehe separates entirely Economics and Sociology, but the ‘static’ theory (which neglects human action) inevitably leads to the ‘dynamic’ theory (which intends to centre again human action) in hisTheorie der wirtschaftlichen Entwicklung. Undoubtedly fundamental for his theory was not only the conception of numerically neither verifiable nor falsifiable qualitative mutations. But unfortunately through the sociological‐institutional basis of the book, the sociological prerequisites of the required innovations were failed to be recognized.Schumpeter intended a comprehensive theory of modern capitalism; in his view such a theory had to consist of the theories of origins, effects and decline of modern capitalism. The ‘effects’ he imagined to have developed by his above mentioned theory, in connection with an article ‘Zur Soziologie des Imperialismus’, the ‘origins’ by the article ‘Die sozialen Klassen im ethnisch homogenen Milieu’, which contains also a theory of the generation of social classes and class mobility, and the ‘decline’ by the bookKapitalismus, Sozialismus und Kommunismus. Capitalism will break down, because continuous economic success would destroy the indispensable bases. It is also often overlooked that Schumpeter already 1917 agreed with Max Weber and Pareto on the scope and methodology of sociology, thus stating, that sociology was a science free of value judgements dealing with the interactions between individuals and groups of individuals in a social entirety. Not only extend sociological elements most of his publications—especially the works published when he lectured in Bonn on ‘Gesellschaftslehre’—he also conceded in a work published after his death, that Sociology, Economics, History and Statistics were entirely equally entitled, consequently concluding—after having already early recognized the common bases of Sociology and Economics—that ‘economic’ and ‘

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02483.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

摘要:

SUMMARYThis paper suggests a simple way of developing a continuous capital coefficient series based on potential output estimates. The use of the potential output estimates in the denominator of the coefficient eliminates, the distortions to the relationship between capital and output caused by cyclical fluctuations. With the influence of cyclical fluctuations eliminated, the secular trends of the coefficient are revealed for analysis.The series developed in this study is for the private business sector of the United States Economy in the period 1909‐1959. Terborgh's study of gross capital in the private business sector serves as the basis of the capital side of the coefficient, while in the denominator, the potential gross private domestic business product is derived from Knowles’ potential GNP estimates. However, it is emphasized that other studies of gross capital and potential output could be substituted for the ones used in this paper. Some alternative series of the capital coefficient, based on several methods of estimating potential gross product in the business sector, are given for the postwar period.The resulting series shows a significant decrease in the capital coefficient from 2.203 in 1909 to 1.944 in 1941 with a distinct secular decline since 1922. There is a sharp once‐over decrease in the coefficient during World War II. Although there is an interruption in the secular trend in the early postwar period, with a peak of 1.799 in 1951, the overall trend of the coefficient for the 1946‐1959 period is downward. The change in the coefficient is from 1.719 in 1946 to 1.620 in 1959.The rates of decrease, in compound interest terms, for the two periods, 1909‐1941 and 1946‐1959, are approximately the same. The rates are just short of one‐half and one per c

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02484.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02485.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02486.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02487.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY

摘要:

Ágoston, IstvÁn.Le Marché Commun Communiste — Principes etpratique du COMECONAlchian, ArmenA., and Allen, WilliamR.University Economics.Arndt, H. W., and Corden, W. W. (Eds.).The Australian Economy.Boarman, PatrickM.Union Monopolies and Antitrust Restraints.Braibanti, R., and Spengler, J. J. (Eds.).Administration and Economic Development in IndiaBrehmer, Ekhard.Struktur und Funktionsweise des Geldmarktes der Bundesrepublik Deutschland seit 1948Davidson, Paul, and Smolensky, Eugen.Aggregate Supply and Demand AnalystsFiacgadori, Aldo.Realtà Economica e Monopolio.Hauser, Albert.Schweizerische Wirtschafts‐ und SozialgeschichteHodgkins, JordanA.Soviet Power. Energy Resources, Production and Potentials.Shimkin, DemitriB.The Soviet Mineral‐Fuels Industries, 1928‐1958: A Statistical SurveyWu, Yuan‐Li, with the assistance of H. C. Ling.Economic Development and the Use of Energy Resources in Communist ChinaNationalPetroleumCouncil.Impact of Oil Exports from the Soviet Bloc.Jacot, Simon‐Pierre.Stratégie et concurrenceiKolbinger, Josef.Elemente der Bankwirtschaftslehre.KÖnig, RenÉ, und Winckelmann, Johannes(Hrsg.).Max Weber zum GedächtnisMeyers, Frederic.Ownership of JobsNove, Alec.Was Stalin really necessary ?Olson, MancurJr.The Economics of the Wartime ShortageOtt, AlfredE.Einführung in die dynamische WirtschqftstheorieParillo, Francesco.Lo Sviluppo Economico ItalianoPatrick, HughT.Monetary Policy and Central Banking in Contemporary JapanRaupach, Hans.Geschichte der SowjetwirtschaftRundblad, BengtG.Arbetskraftens rörlighetSingh, Manmohan.India's Export Trends and the Prospects for Self‐sustained Growth.SÖdersten, Bo.A Study of Economic Growth and International TradeSpergel, Irving.Racketville, Slumtown, HaulburgTinbergen, Jan.International Economic Integration.Triffin, Robert.The Evolution of the International Monetary System: Historical Reappraisal and Future PerspectivesVanek, Jaroslav.The Natural Resource Content of United States Foreign TradeWildavsky, Aaron.Leadership in a Small Town.Zollsghan, GeorgeK., and Hirsch, Walter(Eds.).Explo

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1965.tb02488.x

出版商:Blackwell Publishing Ltd    

年代:1965

数据来源: WILEY