摘要:

SUMMARYIs fiscal policy in support of economic growth such a potentially important factor that one might say that it could modify the nature of American capitalism? With‐out going into the question of definition of capitalism it is assumed here (1) that the market forces alone would not assure realization of a desirable rate of growth, and (2) that a market system in itself is inherently unstable and subject to economic fluctuations.For policy in support of economic growth it is necessary to combine a steady expansion in aggregate demand with specific Government programs and tax measures designed to strengthen the economic potential and to remove obstacles to economic growth. The feasibility and requirements for success of such a fiscal policy are elaborated by discussing specific objections which could be raised, namely: (1) that a continuation of such policies may lead to ‘cold socialization’ (2) that such policies have an inadequate leverage effect for influencing sufficiently the private sector; (3) that such policies may lead to continuing inflation; (4) that our knowledge of the growth process is inadequate and that political decision makers may not adopt economic advice.These considerations lead to the conclusion that fiscal policies may modify essential characteristics of capitalism as we have known it in past history or as it has been pictured by antagonists. Fiscal policies should not be merely ‘fiscal’ in the conventional definition of the term but must be related to other government programs, to monetary policy, to income policy, and to informational and political ad

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00842.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYThe paper presents a multisectoral growth model which is readily computable with non‐linear production functions and is descriptive of economic conditions prevailing in over‐populated countries. The purpose is to show the optimal allocation of resources over time in a labor surplus economy if the dominant social consideration is to increase the rate of employment as fast as possible. Given an institutionally stipulated minimum wage rate and certain other assumptions, the path that maximizes the rate of economic growth also approximates the path that minimizes the time needed to attein full employment as long as the rate of increase of the capital stock exceeds the rate of growth of the potential labor force. A rigorous proof of the proposition is presented with the help of the calculus of variations and the numerically computable solution of the growth model is derived from the conditions underlying the optimum at any moment of time.The model is an analogue of competitive markets under appropriate demand conditions. In addition, since it is computable, the model can be used by economic planners in countries where large scale unemploffment or under‐employ‐ment

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00843.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYThe purpose of this paper is to offer an appraisal, in the light of the theory of economic policy, of some recent attempts to survey the fiscal systems of a number of SUPHAN ANDIC AND ALAN PEACOCK African and South American countries. The authors contend that any recommendations about the size and structure of the fiscal system must be clearly related to specific policy aims which are embodied in an economic model in which the variables and parameters are adapted to the economy in question. They also stress that recommendations concerning changes in the administrative structure depend on the type of model considered relevant to the particular circumstances of the economy under scrutiny.The various fiscal surveys are then examined, it being admitted from the out‐set that they have been conducted under difficulties (e.g. lack of statistics, sensitivity of the sponsors to criticisms of existing policies). Nevertheless, as the surveys rarely do more than list objectives without reference to orders of priority and are frequently vague about the type of economic models employed and the values of parameters, it is impossible to evaluate their policy recommendation

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00844.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYThe price‐ and income‐elasticities of imports and primarily rates of growth and relative price‐level changes in the countries involved are the most important determinants of the external situation of a country. Growth and price trends are at the same time important target variables of internal policy. Balance on current account is only achievable if these determinants are related in a certain way both abroad and at home. If the proportions required are not to be realized, conflicts arise between external and internal balance. International co‐ordination of growth policies may diminish the danger of such conflicts situations. When a larger number of economic objectives can be managed simultaneously there is also a bigger number of constellations which are compatible with external balance. If on the other hand conditions of growth are very different it is usually not possible to bring in accordance internal and externa

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00845.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYIn the social sciences specialization is just as unavoidable as in other branches of science but requires a counterweight in the form of collaboration between economics, sociology and political science, and between all these and history. Each social structure, a shop, an office, a club, has at the same time economic, political and sociological significance, and is also rooted in the past. Economic activity especially is embedded in non‐economic contexts not only in primitive or proto‐capitalistic societies ‐ as Karl Polanyi has stated ‐ but always and everywhere, and most economic activities are enveloped by economic contexts.Therefore, if one wants to understand the full meaning of social reality one has to look at it from the point of view of all the social sciences. Today this is often done in regional studies and in city planning. But this spotty kind of interdisciplinary collaboration is insufficient, especially because it does not lay the groundwork for an education in integrated social science. Such science would systematically study all the typical processes, in whatever part of society, which the individual disciplines analyze each from its own viewpoint. This unified kind of social science will exist only when in the scholarly world synthesis is recognized as an endeavor just as valuable and meritorious as specialized research. Recognition for synthesis in social science will also bring two practical problems closer to solution: How good teaching can receive more credit, since the synthesizing approach is essential for the teacher, and how we can loosen up the negative attitude which many of our students display toward scholarly effort because they feel that it is too hyper‐specialized to have much relevance to life

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00846.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYThe author examines the forces making for growth in different groups of countries and emphasizes the differences between industrial and developing countries.The scenery of the Malthusian dilemma has changed; its solution requires internationally co‐ordinated activities. The author estimates the capital needs of developing countries as 800‐1000 milliard of US $ and maintains that this amount can be provided by intensifying the international division of labour. In the second part of the article the present aspects of the division of labour in the Western industrial and in the Socialist countries are analysed. The author emphasizes that the most important task of the XXth century consists in an efficient redistribution of the available resources, as well as their increase, through international co‐oper

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00847.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYOne of the problems of a theory of integration consists in the difficulty to define ‘integration’ itself. The theory of international trade can hardly provide such a definition, for the problem of integration are related to the various fields of theory. The author defines integration as the merger of two or more national economies. In such an integrated economy some of the national public offices must be joint together in order to solve the problems of the whole integrated area. This is the reason why the author prefers an ‘institutional’ to a ‘functional’ solution.The way the economies are integrated depends on their structure. The present‐day problem is the integration of ‘mixed’ economies of the western Europe type. The most important requirements of a total integration are: (1) giving up the internal border‐lines, (2) centralization of the national policies and erecting a joint legal constitution, (3) assimiliation of the national economic structures.The examination of the political and economic consequences of integration shows that uniting several economies into one is possible without complete political union. The process of economic integration is autonomous and can be pushed forward isolatedly. But it is not possible as yet to give exact details about the economic eff

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00848.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

摘要:

SUMMARYThe paper starts from Schumpeter's interpretation of Adam Smith's concept of the contemporary embryonic industrialist whose main function was considered to be the accumulation of capital. The author traces the development of this concept in the nineteenth century and tries to explain its origin. He shows that medieval reality, i.e. the relationship betweenstans and transactorin the societas maris is at the root of Smith's concept. It remained justifiable as late as 1776 on the basis of the cooperation of capitalist and entrepreneur‐manager in the early mechanized cotton industry, as it is presented in Robert Owen's autobiography. But just this self‐testimony shows also the rapid change of this relationship after the appearance of theWealth of Nations, which neither the classical economists nor Marx under‐stood in their implications. From this came an unfortunate economic legacy, the misunderstanding of certain aspects of entrepreneurship, which only Schumpeter discarded on principle in hisTheory of EconomicDevelo

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00849.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00850.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1966.tb00851.x

出版商:Blackwell Publishing Ltd    

年代:1966

数据来源: WILEY