Stagnation theory in the light of recent history. (Fassung 2)

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Stagnation theory in the light of recent history. (Fassung 2)

Author:: Steindl, Josef

Scope:: Typoskript, 14 Blätter, mit handschriftlichen Anmerkungen und Anstreichungen

Year of publication:: 1974

Source material date:: [vermutlich um 1974]

Language:: English

Description:: My book on maturity and stagnation was concerned with a particular period of history (ending in 1939) and a particular country - the U.S., which was chosen, in part because at the time it approximated reasonably well to a closed system with negligibly small taxation and budget. The question arises how far these ideas are relevant for other countries and for more recent periods. The questions, this much is sure, become then rather more complicated. (Auszug, S.1)

Subject:: Industriestaaten Wirtschaftswachtsum Wirtschaftsentwicklung Stagnation

Note:: Unveröffentlichtes Typoskript.

Related work:: Steindl, Josef: Maturity and Stagnation in American Capitalism. Oxford: Blackwell, 1952

Topic:: Growth,cycle and stagnation

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

Shelfmark:: S/M.77.1

Access:: Free access

2 II. Since the stagnation of the 30'ies great historical changes have gone on, and they may affect my arguments about concentration, competition and income distribution, about excess capacity and stagnation, and their relevance to the post-war development before and since 1975. (X v-'Si - • ° O . o One change has been the opening of the system: The growing importance of foreign transactions and, even more, of the state sector, the budget and taxation. These things were always much more important in Europe than in the U.S. I chose as a model for my maturity theory; they have in the meantime become more important in the U.S. too. iWvwMA 7 Another change occurred in the labour market. Up to 1974, more or less, there was full (or high) employment, a world vastly different from pre-war. It affected, I think, strongly the distribution of income between labour and capital. There was a certain shift of competition from the market for goods to the labour market, (although this would hardly operate perceptibly in the international field, where competition in the goods markets continued to dominate). While the industrial reserve army in Europe tended to vanish, it was replenished or to some extent replaced, by influx from agriculture, from the reservoir of female labour, and from abroad. The cost of training (l kXAT\ (/CS 4\

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