Distribution and Growth

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Distribution and Growth

Author:: Steindl, Josef

Scope:: Typoskript, 19 Blätter; mit handschrifltichen Anmerkungen und Ergänzungen sowie 1 Notizblatt mit handschriftlichem Text, geheftet.

Year of publication:: ohne Datum

Language:: English

Note:: Notizblatt mit dem Titel "Include in the lecture on distribution".

Topic:: Saving and distribution

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

Shelfmark:: S/M.71.4

DOI:: https://doi.org/10.48671/nls.js.AC14446258

Chapter

Document type:: Chapter

Title:: Distribution and Growth.

<s^ytal'£>u C^i ' ^t -fits'll*%h>'VUj ^ “ 7 - t, ,, . »«►. cj w*;+*OA> <&*-< t&U* 4e* iH&d^Utj t- / ' ^oj ///, focj, This means that the share of investment in GDP (y) (which is regarded here as a proxy for the growth rate) will depend on the profit margin \ , calculated on capacity output, and on ' + utilization of capacity y/y . The main ideas are thus: Saving comes largely out of profits, or rather: For flexibility saving depends on the flexibility of profits, while other sources of saving are much less flexible. Further: The share of investment in GDP can be taken as a proxy for the growth rate, in other words, changes in capital coefficient will not be large or systematic. The capital coefficient is determined by the course of technical development. As a matter of speculation it may be guessed that in manufacturing one does not like capital coefficients above a certain value (except in basic metals) and methods which require them are not adopted, or only after the capital coefficient has been reduced by some device, such as large scale units. This theory, with some refinements, I used in Maturity and Stagnation (1952). In view of my special purpose I only treated the problems arising from declining growth i.e. the adaptation of a profit margin which is too high for the growth established. I propose now (1) to deal equally also with the other case of a rate of growth which is high in relation to the customary

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