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

Source material date:: [vermutlich um 1974]

Publication date:: 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)

Note:: Unveröffentlichtes Typoskript.

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

Topic:: Growth,cycle and stagnation

Subject:: Industriestaaten Wirtschaftswachtsum Wirtschaftsentwicklung Stagnation

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

Shelfmark:: S/M.77.1

Access:: Free access

Full text

3 
labour became more important, therefore greater (longer) 
retention of skilled labour by concerns, involving 
larger fixed cost. The dual labour market became more 
dominant. 
With this and with a social policy the keeping of 
redundant labour in face of declining demand became 
more important. 
As to industrial policy, the concentration no doubt 
increased further, encouraged now (in Europa, at least) 
by government policy in view of international competitive 
ness. Thus the competition of oligopolies shifted to 
the international scene, where large concerns are 
identified with nations. At the same time it has become , 
to a very large extent, technological competition. In 
so far as concerns (in spite of their international 
activities) are still identified with their national 
basis, it is also a national competition, in which the 
national policies of governments (protection, subsidies) 
are involved (technological competitions between the 
U.S. and Japan and Western Europe). Finally, it appears 
that in our age the problem of structural adjustment 
- the (relative) decline of certain industries and great 
overcapacity in the steel, cars, plastics, textiles, 
has been very prominent. This may be partly due to the 
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