Brief von Jerzy Osiatyński an Josef Steindl

Osiatyński, Jerzy

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Correspondence

Document type:: Correspondence

Collection:: Josef Steindl Collection

Title:: Brief von Jerzy Osiatyński an Josef Steindl

Author:: Osiatyński, Jerzy

Recipient:: Steindl, Josef

Scope:: Typoskript mit Unterschrift, 1 Blatt, 2 Seiten

Place of publication:: Warschau

Year of publication:: 1981-07-26

Source material date:: 26 July 1981

Language:: English

Note:: Handschriftliche Unterstreichung auf Seite 1.

Shelfmark:: S/B.60

Correspondence partner:: Steindl, Josef Osiatyński, Jerzy

Rights of use:: Free access In Copyright

Access:: Free access

DOI:: https://doi.org/10.48671/nls.js.1504180580566

Incidentally, , when in para 5, p. 44, you say "there must thus be an 'enforced raationalisation 0 investment, a seemingly perverted reaction to a fall in profits and demand", you probably mean "reaction to a fall in competitors* profits and in demand for their products", for there is, if I understood you well, only a redistribution of profits and demand between the innovator on the one hand and his competitors on the other while the relative income distribution fewtee between profits and wages remains unaffected. Is that correct?/ Once a constant process of introducing new innovations is introduced, its impact on the trend depends on the relative advantages which these innovations offer to those who introduce them, but also on the "general climate", the "state of business", "animal spirits", etc. The latter may be different in some countries and/or periods than in others. Thfe could explain some differences in output series. What will happen, however, if after a period of successful "enforced rationalisation" investments 4ha4a there is a change in the entrepreneurs* attitudes /say, in their "animal spirits 1 / and a gereral ease in competition ensues. Would not it resula rather in a protracted depression than in a positive tpfid (though at somewhat lower rate of growth than before)? How should thepe and similar factors,which are perhaps more of a socio logical character, be accounted for in your formula which is meant to explain both the cycle and the trend? Would it not be easier to account for them in a separate equation determining F/t/? I need not mention how very stimulating I found your paper and I am sure I will come back to it more than once. I shall be most obliged to hear from you on the points I have mentioned above. This paper is an evidence that you are indeed in a very good form} this is excellent news. With best regards and greetings Yours sincerely

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