Stagnation theory in the light of recent history. (Fassung 1)

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Stagnation theory in the light of recent history. (Fassung 1)

Author:: Steindl, Josef

Scope:: Typoskript, 14 Blätter, kopiertes Exemplar mit handschriftlichen Anmerkungen

Year of publication:: 1974

Source material date:: [vermutlich um 1974]

Language:: English

Description:: How far are the ideas from "Maturity and Stagnation" relevant for other countries and for more recent periods.

Subject:: Industriestaaten Wirtschaftswachtsum Wirtschaftsentwicklung Stagnation

Related work:: Steindl, Josef: Maturity and Stagnation in American Capitalism. Oxford: Blackwell, 1952

Topic:: Growth,cycle and stagnation

JEL Classification:: O11 [Macroeconomic Analyses of Economic Development]

Shelfmark:: S/M.45.3

Access:: Free access

(by the price and other competition involved). The macro-economic process of distribution is conceived as resulting from the steady interaction of simultaneous innovation and diffusion processes which to some extent balance out. Now in post-war conditions of prolonged full employment and labour scarcity an alternative version of the process became relevant and perhaps dominant. The differential rent of the favoured firm came under pressure from the side of labour which asked for a proportionate share in the extra profit. Their success was guaranteed by the firm's strong interest in a stable well adapted and trained labour force. The firm will still expand capacity (even if perhaps less quickly than under the pre-war version); the elimination of the weaker competitors and their capacity will come through loosing their labour to the favoured firm. The tendency for an increase in mark-up in the industry in this version of the process is nipped in the bud. I think the story fits fairly well the conditions in several countries up to 1974. It compares favorably to the pre-war conditions, because then the extra profits of the innovation were often not passed on at all. The

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