Brief von Josef Steindl an Jerzy Osiatyński

Steindl, Josef

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Dokumentenart:: Korrespondenz

Sammlung:: Nachlass Josef Steindl

Titel:: Brief von Josef Steindl an Jerzy Osiatyński

Autor/in:: Steindl, Josef

Empfänger/in:: Osiatyński, Jerzy

Art/Umfang:: Typoskript, 1 Blatt

Ort:: ohne Ort

Erscheinungsjahr:: 1981-09-09

Datierung der Vorlage:: Sept 9, 1981

Sprache:: Englisch

Anmerkung:: Durchschlag.

Signatur:: S/B.61

Nutzungsrechte:: Rechte vorbehalten

Zugriff:: Freier Zugriff

Sept 9, 1981. Dear doctor Osiatynski f Thank you for your comments on my paper inthe banca dl lavoro review which I shall try to answer a§ well as I can, I think there are three possible unfavorable effects of innovations on demand. 1) There is an increase in the average mark-up in the industry. This will, if the volume of profit in the total economy is given, reduce utilisation. It is this effect which, I said, will be disappear once the diffusion is complete. It is true that this point may not be of importance if innovations succeed eachother and therefore the various phases if the innovation process exist simulanously 2) There is the discouraging effect of the innovation on the innovators c mpetitors who loose market shares, ^’his e and are therefore inclined to stop or reduce investment simply because they have no money It is here tha,t I thought a different reaction might be possibles"Enforced rationalisation" perhaps with the help >f banks etc, a "flight forward". 5) The capacity effect which in principle will always be there. What I talked about in the third paragraph on p 44 was a succession of innovations such thatthe capacity effects of the older innov iion is compensated by the investment effect of a newer innovation. Incidentally, it may betrue that the capacity effect of in the case of'enforced rationalisation" is even greater than it otherwise would be; that you mean,don't you? It has also been suggested to me by Tibor ^citovski. I hope this goes some way in answering your questions. With my best wishes Yours,

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