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.

12 with further depressive consequences, since excess capacity will discourage investment. Using the same assumptions it can be shown that the transition from a competitive to an oligopolistic regime, if it causes an increase in profit margins at given utilization, will lead to excess capacity, and hence to a secular decline of growth. 1) G. Nardozzi who applied similar ideas to an analysis of the development of the Italian economy in the post-war decades, stresses quite rightly the role of new entrants in the competitive struggle (they are, of course, absent in the oligopolistic case). This is rather an improvement of my argument. (I overstressed the advantages of the large firm, based on large scale economies, and attributed more of a dynamic role to it than is justified on the basis of broader considerations). I noted also the possibility that oligopolies would be influenced -that not only by actual excess capacity, but'they have an as it were constitutional fear of it: That is, a transition to oligopoly would automatically lower the inducement to invest. This line of thinking seems to have been important for Nardozzi's analysis. 1) Sviluppo a stagnazione della economia italiana 1951-1971. L'industria 1974.

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