Trend - Problems

Steindl, Josef; Bhaduri, Amit

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Trend - Problems

Author:: Steindl, Josef Bhaduri, Amit

Scope:: Konvolut aus Typoskript "Trend - Problems", mit handschriftlichen Korrekturen, 6 Seiten sowie einer Kopie dieses Typoskripts mit einem Kommentar von Amit Bhaduri auf Seite 1, Konvolut insgesamt 12 Seiten

Year of publication:: ohne Datum

Language:: English

Description:: Kalecki, trend, cycle, technological change, oligopoly.

Note:: Entstehungszeitraum vermutlich vor 1988. - Unveröffentlichtes Typoskript.

Related work:: Steindl, Josef: Trend and Cycle. In: Mott, Tracy und Shapiro, Nina (Hrsg.): Rethinking Capitalist Development. Essays on the Economics of Josef Steindl. New York: Routledge 2004, S. 164-173

Topic:: Growth,cycle and stagnation

JEL Classification:: E11 [General Aggregative Models: Marxian, Sraffian, Kaleckian] E32 [Business Fluctuations, Cycles] E37 [Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications]

Shelfmark:: S/M.18.2

Access:: Free access

2 The following questions arise: How is the technological change measured? At what point and in which form does the exogenous influence enter the economic process? There are the stages basic research, applied research, development, actual production by the pioneer ( innovation in the snfese of Schumpeter) and diffusion. Kalecki seems to have the regarded the innovation as,exogenous factor, but I am not sure whether he meant it quite in the sense of Schumpeter. It would leave only diffusion as endogenous. Obviously economic factors enter into all the above mentioned stages. How is the adverse effect of increased capacity which plays such an important role in the turning point of the cycle avoided in the case of technology generated long r^un growth?( One possible answer would be the competitive process I described in Maturity and Stagnation ), What, in the absence of technological stimulus, forces the net investment to return to the level it had at the starting point,leaving the capital stock at the end of each cycle the same as at the beginning? 2. Maturity and Stagnation. There it is shown that an existing trend is made to deteriorate by the emergence of oligopoly as a dominant force inthe economy. But a weakness of the book is that all too little is said about this existing trend from which the argument starts. It is in fact rather related to Harrods trend, therefore Kalecki's criticism (1962) also applies to it.

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