Policies of Stimulating Private Investment

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Policies of Stimulating Private Investment

Author:: Steindl, Josef

Scope:: Typoskript, 6 Blätter; mit handschriftlichen Anmerkungen und Anstreichungen.

Year of publication:: ohne Datum

Language:: English

Topic:: Firm and market structure

JEL Classification:: D43 [Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection]

Shelfmark:: S/M.45.1

DOI:: https://doi.org/10.48671/nls.js.AC14446075

5 The upshot is that a principle pronounced by Kalecki proves to be applicable to the development on a world scale: He said that the policy of stimulating private investment either by a cut in interest rates or by tax incentives, could be effective only te mporarily because of the capacity created which would require a renewed dose of stimulus in order not to depress the markets, and so on. The basic problem of effective demand is not.solved by t the tax stimulus. It follows then that the employment policy pursued by practically all countries was not aDEquate, in fact, it was not a Keynesian or at least not a Kaleckian policy at all and therefore what failed was anything but a Keynesian or Kaleckian policy. The problem of creating an adequate amount of consumption, by approprate disIribu^i^n^o^incBme^poSicies^ 1 remains basic for a full employment policy . onmental

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