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.

15 the increase in household savings rates in some countries. There was the break down of international economic co operation. There was the change in political climate due to the reaction against the welfare state which turned the course of economic policy round by 180 degrees. The relative inflexibility of the profit margin at given utilization shows itself in the low degree of utilization over the past eight years. We must, however, now take into account that the conditions of our time differ vastly from the closed economy with negligible role of government which had been assumed in my original discussion of the effects of oligopoly on growth. There I concluded that the increase in mark-up by the oligopolised industry would in fact not increase the volume of their profits which would be kept constant by a reduction of utilization. There would only be a redistribution of profits within the business from the competitive to the oligopolistic sector. This is far from true nowadays because the depressive effect of the oligopolist's action will increase the budget deficit and increase the foreign balance. Its effect on the household saving is more doubtful since even in the long run it may not be very flexible. In consequence the oligopolists will obtain an increased volume of profit not only at the expense of competitive business but at the expense of the budget and the

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