摘要:

SUMMARYAfter World War II the economic, technological and social conditions of modern society have changed fundamentally. These evolutionary changes not only influenced the range of the activity of the State, i. e. the empirical and theoretical object of public finance since its foundation as a branch of Political Economy; it also shows a strong effect on the basic parts of modern public finance, on the normative and positive theory of public economy and on the approach of decision making process in the public sector. On the other hand, new methods and perception of this field essentially contributed to throwing new lights on fiscal functions and objectives of modern government and to solve the central problems. Yet this is only an initial step in applying the results of fiscal theory to the interdependent market and public economy.After a period of stagnation a process of theoretical foundation and economizing of this field has begun, preliminarily resulting in an amalgamation of fiscal and economic theory and in an incorporation of fiscal into economic policy. This merger logically raised the question how far this branch is to be considered a proper field of the tripartite Political Economy which—as is wellknown—is still taken as a basis of our academic institutions as well as of many textbooks. Along with the methods of research and theorizing the questions and thus the problems of this branch have changed to a degree that its traditional framework and even its name have become questionable. The label ‘public finance’ today does not cover essential parts or aspects of the objects in theory and practice sufficiently. We are interested in the principles of publiceconomy(not primarily of publicfinance) and the interrelations to the market economy, the problems thus ranging from activating and allocating a nation's resources to distributing income and wealth and, to stabilizing internal and external growth. The central aim of modern public finance is to make transparent the circular flow and the interdependencewithinpublic sector andbetweenmarket and public economy by budget‐ and market theory in order to obtain results which can be successfully applied to a rational economic and general policy. The idea of an autonomous theory of public finance has indeed been overcome, although the peculiarity of political decision making renders a comprehensive theory of a nation's economy more difficult in which government activity is subdued to economic p

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02519.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

SUMMARYThis article presents a mathematical model for monopolistic price competition among firms with differentiated products. The conditions which distinguish the Chamberlinian analysis from that of Edgeworth are examined. Product differentiation is not sufficient to guarantee the existence of a stable non‐cooperative equilibrium point in terms of price. The relationship among the degree of product variation, amount of capacity, and stability are examined. Explicit formulas are obtained for the non‐cooperative equilibrium and the capacity conditions for its existence. The behavior of the model as the degree of differentiation approaches zero and as competition becomes large is examined. This connects the analysis of oligopoly with the analysis of pure competit

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02520.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

SUMMARYThe first to draw Soviet economists’ attention—in the early ‘sixties’—to the von Neumann model, hitherto unknown in, and indeed alien to Soviet economics, was Nemchinov. The subject was taken up by several writers: of particular interest is the impact of the construct on the model of'dynamic planning’ designed by Kantorovichand Makarov; this is the theme of the present article. MORTON and Zaubermanstart from a discussion of the von Neumann‐type equilibrium in a long term economic plan. They then turn to several specific issues which have been for some time focal in Soviet planning thought and analyse the significance for them of the von Neumann model. These are in particular the nexus between the pace of the economy's growth and investment efficiency—traditionally recognized as central in the advance for Soviet economy; further the problems of efficiency and profit rates and in general the efficiency parameters (pricing). The authors also discuss the quest for an optimality criterion—from the angle of their theme. The article concludes with precepts for the planner as influenced by the

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02521.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

SUMMARYDecision theory is applied to a situation of conflict which a mother of two actually faced in an isolated home in the American Rocky Mountains. While the father was away on a trip which he thought to last seven days, the mother was bitten by a poisonous snake. She thought the bite to be fatal. To spare her two children, aged two months and two years, the agony of death by starvation, she decided to kill them.The mother faced a decision problem under uncertainty. A theoretical analysis of the situation shows which rational decision would have been optimal. However, a rational decision derived in an objective fashion is not free of subjective elements. Assigning utility measures to the possible types of death of the children, suppositions as to nature's strategies, and the choice of one of four established decision criteria are subjective.The criteria of Wald and Savage picture nature as a hostile opponent wanting to inflict greatest possible injury. The difference between them consists merely in the valuation of the disutility of death. Rational behaviour of the mother calls for selecting that strategy which promises the best of the worst possible outcomes.The Hurwicz criterion can accommodate all variations of nature's attitude, from malignant to benignant. According to the mother's optimism a distribution is supposed over nature's most favourable and unfavourable strategies. The probabilities of all other possible strategies are assumed to be zero.The criterion of Laplaceassumes an indifferent nature. All possible strategies of nature are equally likely to eventuate.Three strategies are open to the mother, leave both children alive, kill one child, kill both children. Depending on the utility valuations the mother attaches to the different possible types of death, one of these strategies is optimal. If a decision is arrived by the Wald or Savage criterion a mixed strategy is superior to a pure one. The possibility of the childrens survival through the arrival of a stranger only affects the choice of the mother's strategy if she uses the Laplace criterion.

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02522.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

SUMMARYIn this paper on power relations the author assumes that each participant (A, B) behaves rationally, aims at an increase of his utility. The assumption of the purely instrumental character of power constitutes a second important premise: power is supposed to be a means, not an end in itself.WhenAtries to compelBto do something he wouldn't otherwise have done by threatening retaliation against any disobedience ofB, Ais interested in the credibility of his threat indeed. HoweverAhas usually no incentive actually to carry out the threat in case of resistance byB. Moreover the realization of the threat very often causes considerable costs to the power‐holder. Because ofA'sdilemmaBstands a good chance of resisting the pretension ofAwithout being punished. Finally the author analyses what counter‐movesAcan make.In another form of influence—often called ‘manipulation’—Bdoesn't notice at all that his goals conflict with those ofA. Adoes not make explicit the ends he is striving for. As long as the assumption of rational behaviour is retained, this kind of influence can only occur in case of uncertainty—taste structure ofAandBass

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02523.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

SUMMARYThe essay examines the influence of capital imports on the structure of a developing economy. A significant and persistent capital import will result in a relatively low foreign exchange rate. Consequently, the share of internationally tradable goods and services in national product tends to be low. This will be reflected in a higher share of services and in a smaller share of agriculture and manufacturing in national product and in the labour force of an import surplus economy as compared with a balancing economy with the same internal resources. International comparisons show larger differences in productivity for tradable goods and services than for non‐tradable goods and services. Considerable gains can, therefore, be obtained in low‐productivity countries by enlarging the production of non‐tradables and by limiting the production of tradables to those with a high comparative advantage. Thus, the average capital/product ratio tends to be smaller and average product per employed person larger, when there are significant and persistent import surpluses as compared with a situation in which international accounts are balanced. This, together with the larger investments made possible by capital imports, will increase the growth rate.But the import surplus economy becomes structurally dependent on capital imports. To be able to balance its international accounts it must adjust its structures, i.e. increase the share of tradable goods and services in national product so that it can replace import surplus by larger exports and by import substitutes and increase domestic savings. To achieve this a deliberate government policy is nece

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02524.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

SUMMARYThe present paper uses ‘optimality analysis’ in order to evaluate the case for protection. It has been found that the general principles of optimal government intervention remain inviolate both in the ‘static’ welfare‐economics world and in the context of ‘growth’. The vast existing literature on the subject has been critically examined in order to drive home to the reader the main message of the present paper: that arguments for using protection as a primary instrument to remove domestic distortion, arising either from external economies, monopoly elements in production or a rural‐urban wage differential, or from a differential in the rates of transformation between present and future goods are in effect arguments for providing subsidies on domestic production. Also protection is a wasteful policy in order to promote saving and investment. Instead it is far better to achieve this objective more directly by using appropriate fiscal policies. However, under certain conditions, protection may prove beneficial by attracting foreign investors to set up joint projects in the country. The novelty of the general approach of this paper lies in relating the argument to Tinbergen's‘targets—and—instruments’ approach. More emphasis is given in the paper to the infant‐industry argument and the use of tariff to attract foreign capital. This last and the growth‐promotion‐through‐saving argument are the two new topics, not covered in the existing literature, that have been di

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02525.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02526.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

摘要:

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ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02527.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1969.tb02528.x

出版商:Blackwell Publishing Ltd    

年代:1969

数据来源: WILEY