From Stagnation in the 30s to Slow Growth in the 70s.

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: From Stagnation in the 30s to Slow Growth in the 70s.: Fassung 2

Author:: Steindl, Josef

Scope:: Typoskript, 24 Blätter, mit zahlreichen Anstreichungen und Anmerkungen

Year of publication:: 1989

Source material date:: [vermutlich um 1989]

Note:: Kopie einer Fassung mit kopierten, ursprünglich handschriftlichen Korrekturen und handschriftlichen Anmerkungen und Anstreichungen. Der vorliegende Text wurde in einer minimal geänderten Fassung zweimal publiziert. In den "Economic Papers" fehlt der einleitende Absatz ("Personal Reminiscenes").

Topic:: Growth,cycle and stagnation

JEL Classification:: E32 [Business Fluctuations, Cycles] O11 [Macroeconomic Analyses of Economic Development]

Shelfmark:: S/M.59.6

DOI:: https://doi.org/10.48671/nls.js.AC14446134

20 The undermining of major principles was indeed apt to create uncertainty. The crisis of the smoke-st^k industry was already felt and saturation was experienced in various fields. Equally there was uncertainty about the way consumption was going to develop further. How would further increases in income be spent? This is a field for innovation like others and therfore full of risks and hesitations. ( The young people of the preceding decade had created certain patterns , but this movement seems to have become less vigoraus. It had been an example, however, that consumption^too / is a pioneering affair ). It was this kind of difficulties which the burocratic concerns and the politicians were ill prepared to face. This is true for the U.S as well as for Europe. The optimist may have been inclined to say that the structural crisis will force people to learn and to devise better forms of organisation. UMfortunately what happened in the last years does not look like learning. The young people thrown out into the street certainly do not £ politicians larn industrial skills and the kkgixadrottcs: seem to have spent these years in forgetting whatever they knew before.

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