What is New Since Keynes?

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: What is New Since Keynes?

Author:: Steindl, Josef

Scope:: Typoskript, 17 Seiten mit handschriftlichen Anmerkungen und Anstreichungen

Year of publication:: ohne Datum

Language:: English

Description:: Steindl analyses the new features of the economy and stresses the need to elaborate Keynesian arguments accordingly. New features are 1. unprecedented openness (internationalisation of banking, multinational companies), 2. destabilisation of price-wage system, 3. increase in public spending and tax revenue, 4. environmental problems, 4. growth of household savings, and 5. structural crisis of basic industries.

Note:: Entstehungszeitraum vermutlich zwischen 1983 und 1990. Erstveröffentlichung des Bezugswerkes von Fausto Vicarelli auf Italienisch: L’Attualità di Keynes. Roma: Laterza, 1983.

Related work:: Steindl, Josef: Keynes' "General Theory" nach 50 Jahren. In: Wirtschaft und Gesellschaft, Band 13, Nr.1 ,1987, S. 11-18 Steindl, Josef: Keynes, J. M. Society and the Economist. In: Vicarelli, Fausto (Hrsg.): Keynes's Relevance Today. London: Macmillan, 1985, S. 99-125 Steindl, Josef: Die gegenwärtige Krise aus der Sicht von J. M. Keynes. In: Wirtschaft und Gesellschaft, Band 9, Nr. 1, 1983

Topic:: Firm and market structure

JEL Classification:: E12 [General Aggregative Models: Keynes, Keynesian, Post-Keynesian]

Shelfmark:: S/M.76.1

Access:: Free access

10 The smaller firms also offer participation in profits to their staff . The cooperation between small entrepreneurs a. seems to be easier than between the divisions of a firm. 2 Business Week April 18, 1983. "A reflection of these developments can be Seen in the" attempts of many big concerns to draw their lessons from them. They attempt to decentralise, to create units with a lot of independence which by their managers could be operated as if they constituted separate small firms. They also try to offer participation in the firms gains. They encourage productivity committees on the Japanese pattern. They increasingly concern themselves with the working conditions. This is paradoxical in a time of great unemployment: However, in technological industries the /v turnoverrate for the highly skilled staff even in these If / conditions is high. 1 At the same time it seems that the economies of scale (internal) 3* over a wide field are loosing importance. This is due to new techniques like microelectronics which facilitate greater flexibility ( ofmachine tools for example ). Miniaturisation as a technical principle runs in a direction right opposite \ 11 to the development whichhas dominated industrial life for a long time and which has had so manytinfortunate consequences. Re$uming^hese considerations we might say that it appears \ to be a characteristic and novel factor in present developments that the human element in industry is getting /V” OtCi. attention^ perhaps in some cases already taking precedence over technology. 3 74,3 iUj Uua, 'Vtofe* [ jJvu>UcUcL1_ CrFi ph-*btt <rvv ! v-i“jou.•' v y —j

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