Brief von Josef Steindl an Tibor Scitovsky

Steindl, Josef

r. , / ■ r /■ t v h v' n-, ■ r /■ , v "\ ?■ , f> -: T. 19,59 V/ien Schwarzhorngasoe 1 n /17 24 th June 70 n o. Uy dear ibor, a >■. - J )V< v" y ' V 3' " ’’ > /V V >7 • \ , (</ v \ > '1 *r>, \ 1 $ * ' ® , W r. X 4 . Thanks f ir letter and cheque. I am jolly ell pleased to hear that yu will be coming to Europe in summer in the coming years. I was most interested in y ur paper and I hasten to give », i .y / ■’ c ■ ' <r\ { _ ' . •\ > ...•_ >-V ; 3 you 3uch comments as struck my mind immediately. They may be , an ;• ' ' h ■ ') ' , y £ v .. '' ‘ expression of my lioness or inattentiveness, but then there are many other readex‘3 1 ko that! ■ ' h' v -3 ' -i .. ” . ' ' 4 Tv/o points are obscure to me: The sentence on p.13,li e 4 which Establishes a symmetry between management in one cane and trade unions In the other, which I just don't understand, lay be "r you have been bewitbhed by ^arshis. r -\ 3 r, o ■S' 'X forget what exactly are your reasons why you don't accept the point f view that trade uni>ns have a strong resistance against decrease in m »oy wages which t Is; t t mporarily ma es sense. Th o downward spiral ^ of the 3 ’ies which y u mention was largely c nfined t ■%orica whore 4/ bef re 193 there were no (mass) trade unions. There were deflati no in , 4 ■ . H the 19th century in absence of massive uni ns Hot in Ear pc si..do , the 2 r ies at the latest. V"' • \ 1 h t ( ■ ■ V, , ' rl- : r y. , 1 ■ _ Another p|>int struck me in this c nnecti n ^alecki shid in a sharp recession in vie of the burden of fixed c st firms may by tacit agreement T > , / “-w..; r 1' \ • t , (, 1 increase tie mark-Up S me .15 ec nmists think this happened in 1974! The sere nd obscure point is the moraladvantage of workers (p 13 anil p ( 3a).; The level of comfort f'r the firms must rel te t profit rate fyiou can it be compared to that of the v/>rker? And if they have this oral alvahtage why can' they expl it it much more? Both points.want ;r much more e lanation. t" ? y Yonr discussion offthe c t of hiring is very impressive and the conclusion is precise and 1 cans* t object to it (pO^end of first parag) It all depends on the lack of confidence in the durability of the upswing! ( It is of course all related to the 'resent situation ) apsychology which is not difficult to exlain’i the lands of Schmi t, /i / . u artor- w lur.lonthal and Haynond Barre. 1 am only afraid that the economists of to-day 1 will overlook the precise formulation and will triumphantly rest yur arguments as a proof that the Phillips cuyve has shifted ■ ^ Your f mu 1 at ions on p 5 will enc mrage thefe! In the oil case(p1 ) y -u do t mention that the situation really depends ,,91^ the fact that the oil pruducers do n t s end the y receipts . ■t ' ' ' ^ 7 / . •/ / N i |tiV V' j r -, ~ eu * C ,s\ ' s

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