Brief von Josef Steindl an Krishna Bharadwaj

Steindl, Josef

Bibliographic data

Correspondence

Document type:: Correspondence

Collection:: Josef Steindl Collection

Title:: Brief von Josef Steindl an Krishna Bharadwaj

Author:: Steindl, Josef

Recipient:: Bharadwaj, Krishna

Scope:: Typoskript, 2 Blätter, 2 Seiten sowie 1 Blatt, 2 Seiten mit handschriftlichen Notizen

Place of publication:: Wien

Year of publication:: 01/24/1982

Source material date:: Jan. 24, 1982

Language:: English

Shelfmark:: S/B.149

Correspondence partner:: Bharadwaj, Krishna; Steindl, Josef

Use and reproduction license:: In Copyright

Access:: Free access

DOI:: https://doi.org/10.48671/nls.js.1505117019611

1050 Wien, Schwarzhomgasse 10/17 Jan.24, 1982. ear Krishna, I applogize for taking so lang to answer, hut I have been working on a few papers and I am very slow nowadays. You have written a very beautiful paper on a forbiddingly difficult subject. My comments almost entirely refer not to your exposition but to its subject - the discussion round Keynes. It will not be a secret to you that I have a f eling of deep alienation with regard to this discussion. In fact, I can't make head and tails of it. Let me mention throe fairly general points* 1. The discussion at Trieste and what they referred to, are almost exclusively turning on Keynes a3 if this were a father figure which holds pepple in his grips. If the matter, the problems are of interest in the first place, and not the appreciation of depreciation of a particular life work, then you would think it natural that Kalecki would be included euqually, having the same results as heh;.d broadly speaking but different assumptions ( distribution theory! ) and a much less ambiguous and more comprehensive system. Equally, Keynes' friends Joan R., Kahn al so Harrod could just as well I contribute to an understanding of what is behind this theory. 2. What is long run? You come to it fairly late in your paper, on p 27 -29. It Appears that it is steady state growth. Strictly speaking you jean only compare two such growth systems, which have gone on for a very |lo g time and Eire continuing forever! But I could hardly jibe too strict about i^t, since Harrod has used the method or concept oijf steadiy state growth and 3 have I mylelf in i Maturity etc. The o! ; ppis±te to it would be process analysis which pr ceeds from peri >d to period, and which could also be applied to the long run Obvi imsly the steady gr owth is a very abstract concept and its basis must Ibe somewhat speculative, certainly much more than short run pr cess <|malysis which can more plausibly appeal to facts. ^ You refer t > peisrmanent characteristics of the system, but are there any since the syst em continuously changes? The permanent features are either very general ( there is a surplus, but how much? ) or they reflect an ideology. 5. I comldtely fafll to understand how saving which is ( admittedly, I suppose) adjusted to investment via the GDP, can be equalised to investment (or rarthor, the other way round) by the rate of interest. I seems that different concept of savings must be used here (ex ante?)

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