Trend - Problems

Steindl, Josef; Bhaduri, Amit

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Trend - Problems

Author:: Steindl, Josef Bhaduri, Amit

Scope:: Konvolut aus Typoskript "Trend - Problems", mit handschriftlichen Korrekturen, 6 Seiten sowie einer Kopie dieses Typoskripts mit einem Kommentar von Amit Bhaduri auf Seite 1, Konvolut insgesamt 12 Seiten

Year of publication:: ohne Datum

Language:: English

Description:: Kalecki, trend, cycle, technological change, oligopoly.

Note:: Entstehungszeitraum vermutlich vor 1988. - Unveröffentlichtes Typoskript.

Related work:: Steindl, Josef: Trend and Cycle. In: Mott, Tracy und Shapiro, Nina (Hrsg.): Rethinking Capitalist Development. Essays on the Economics of Josef Steindl. New York: Routledge 2004, S. 164-173

Topic:: Growth,cycle and stagnation

JEL Classification:: E11 [General Aggregative Models: Marxian, Sraffian, Kaleckian] E32 [Business Fluctuations, Cycles] E37 [Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications]

Shelfmark:: S/M.18.2

Access:: Free access

3 It is assumed that a given trend tends to perpetuate itself if certain favorable conditions are given. In my case it is implicit that these favorable conditions consist in the -./working of the competitive process by which an acceptable utilisation rate as well as a somehow normal profit margin is restored. Another weakness of the book lies in its assumptions about long term memory and long term perspectives. It is assumed that moving averages taken over the trade cycle are relevant for the entrepreneurs long term decisions. This is in particular true for the utilisation of capacity; its"long term value"is supposed to influence the decisions. There remains something vague and unsatisfactory about it. A further . shortcoming; The competitive pressure was (wrongly,in most cases probably) supposed to come from big firms who were supposed to be technologically progressive and who accumulated excess profits for which they were trying to find profitable employment in an expansion of capacity at the expense of smaller firms. In reality it is much more plausible that the competitive pressure emanates from new entrants in the particular industry ( although these may be capitalists who have accumulated profits in other lines of business ) and that it is these newcomers who are technologically progressive.

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