Brief von Josef Steindl an Amit Bhaduri

Steindl, Josef

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Correspondence

Document type:: Correspondence

Collection:: Josef Steindl Collection

Title:: Brief von Josef Steindl an Amit Bhaduri

Author:: Steindl, Josef

Recipient:: Bhaduri, Amit

Scope:: Typoskript mit Unterschrift, 1 Blatt

Place of publication:: Wien

Year of publication:: 1980-01-08

Source material date:: Jan 8, 1980

Language:: English

Shelfmark:: S/B.3

Access:: Free access

Schwarzhorngasse 10/17 A- W050 Wien Jan 8, 1980 Dear Amit, Many thanks fir your letter. With regard to my personal in*ome distribution p n per to which you refer: I take it that you have received the new, although fragmentary version vri&ich I sent ypu in May or June, but since you don’ t mention it explicitly I am still not completely sure. My interest in the new Cambri ge school arises from an attempt to show that the ( assumed ) increase in the personal savings ratio/ warrants budget deficits if one can not bring the business sector to increase its indebtedness and if there is no surplus in the foreign balance. The CambridgesEhool by integrating business and households into one private sector obscures the special problems of household savings. But its preoccupation with the various parts of saving and investment in an open system ( which are interacting, but none of which tends to any automatic balance) - budget deficit, foreign balance etc- is justified by the importance of these questions, although they mess it up somewhat. I do knwo the Eatwell, darling etc paper, but my ideas are following a different path. $ think the reduction in productivity growth rate in the seventies in most industrial countries is due to reduced growth and/or / unemployment. The reduced productivity growth in turn is a most essential part in the amrwer to the question why inflation has been accelerating in the seventies. In other word?, the other factors like material prices, increasing taxation of wage etc might have been managed without such spectacular accerleration of inflation. I shall pass on your message to Kazhik. I do hope that you are feeling well and happy. I guess you have alot of work! With my best wishes Yours,

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