Some Comments on the Politics of Full Employment.

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Some Comments on the Politics of Full Employment.

Author:: Steindl, Josef

Scope:: Typoskript, 13 Blätter

Year of publication:: ohne Datum

Language:: English

Subject:: Keynesianismus Monetarismus Wirtschaftspolitik Budgetdefizit Vollbeschäftigung Wirtschaftsentwicklung Kapitalismus Sozialismus

Note:: Seitenzahlen handschriftlich notiert. - Erstmalig publiziert auf Italienisch (Salvatore Biasco, Alessandro Roncaglia und Michele Salvati (Hrsg.): Instituzioni e mercati nello sviluppo economico: Saggi in onore di Sylos Labini, Roma-Bari, 1990).

Related work:: Steindl, Josef: Some Comments on the Politics of Full Employment. In: Biasco, Salvatore; Roncaglia, Alessandro; Salvati, Michele (Hrsg.): Market and Institutions in Economic Development. Essays in Honour of Paulo Sylos Labini. London: Macmillan, 1993, S. 183-191

Topic:: Economic policy

JEL Classification:: E60 [Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General] E65 [Studies of Particular Policy Episodes] P16 [Capitalist Systems: Political Economy] P31 [Socialist Enterprises and Their Transitions]

Shelfmark:: S/M.51.3

Access:: Free access

military; this is what prevailed in socialism so far.Its defect is that it has insufficient feed back from below. The second works by creating certain expectations which are spread through a society by imitation and stimulation like an epidemic. This is the free market pattern,more specifically that of monetary control.As we have seen it involves great instabilities. The third method which so far is only a possibility, is a suitable combination of central planning and control and individual initiative. This not yet existing method of macroeconomic policy will have to wrestle with ,among others, the following problems: First, communication, especially the feed back from below to the centre. It is imperious to distinguish between macroeconomically relevant information and white noise. Therefore it is necessary to filter the information before it is passed upwards by stages from the field to the centre. The filtering has always to be done by the lower level so that the centre receives only the information which is relevant. "Burocracy" in fact often means being submerged in irrelevant details and being incapable of deciding what is important. The information partly takes the form of statistical data and its organisation is crucial for the functioning of an efficient administration. Naturally computers will be of great help but what is probably more important is a certain level of eduction and a special culture. Second, The reconciliation of central planning with individual initiative requires a certain degree of consensus. People must be enabled to understand why they have to submit to certain restrictions of their activities, they must make conscious compromises. To give an example, in a situation of overfull utilisation of resources they must be convinced of the fact that a mad struggle for the scarce goods will not help them and some kind

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