Growth and Stagnation

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Growth and Stagnation

Author:: Steindl, Josef

Scope:: 2 Notizblätter (A5) und ein Typoskript aus 13 Blättern mit handschriftlichen Anmerkungen.

Year of publication:: ohne Datum

Language:: English

Description:: In this paper Steindl analyses his own approach to the underconsumption problem and the transition from a competitive to an oligopolistic economy - based on his elaborations in "Small and Big Business".

Note:: Seite 1 des Typoskripts ist mit dem handschriftlichen Zusatz "Budapest" versehen. - Entstanden nach 1977.

Related work:: Steindl, Josef: Small and Big Business. Economic Problems of the Size of Firms. Oxford: Blackwell, 1945

Topic:: Firm and market structure

JEL Classification:: D43 [Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection] E25 [Aggregate Factor Income Distribution] E23 [Macroeconomics: Production]

Shelfmark:: S/M.62.2

Access:: Free access

12 The argument had become inapplicable after the war, because the concerns were not bound any more to any particular line of business, they were prepared and capable of investing in any industry. But it still makes sense to speak of a maldistribution of profits between business firms: Because there are those who have much more funds than they are willing to use for real investment, and there are those who are keen to innovate and have to indebt themselves to undertake something. Since masS|hnemployment has appeared again an important corrective to the oligopolistic redistribution tendency (in favor of profit) has disappeared and the danger of increase in profit margin has become important again. Probably even more important is the new fact of the i inner degeneration of the concerns in the mass ; production industries: One might say that the focus of maturity has shifted from the market to the interior of the firm, its organisation, management and attitu^des. It is noteworhjty that there has been a development which runs counter to the mass production and the big concern. There is a rise of small and medium production which belies the tenet of the superiority of large scale. It happens in high tec industries, and in certain regions for example in Italy, as a form of rural industrialisation ( new cottage industries , in the words of Ch.Sable ). So far this is of limited importance. How far it presages a new era of industrial organisation I would not venture to guess.

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