Full text: Brief von Josef Steindl an Meyer Weinberg

It Blight be correct to say, it is true, that ii was 
the high private investment of recent years which propped 
up purchasing power ( only up to 1948 or 49 could it be explained 
as deferred investment ). I am not perfectly sure, but I think 
this fact can be reconciled with aay theory: Eight years 
w Jj.-.i 
of full employment ana hi^h utilisation of capacity should 
in itself give the system a considerable impetus. The propensity 
the experience of 
to consume depends on a number of years past; I think also the 
investment decisions may be similarly influenced by the 
experience of high utilization over a number of years. 
This, of course, does not rule out a recession, it means only 
that the high activity for so many years influences favourably 
the trena of the future for a certain time. 
As to reviews it is too early yet. The London 
"Economist" carriea one. Prof.Hansen, I understand, is to 
review it for the Harvard Review. 
Thank you very much for letting me see your 
manus ript which I appreciate ve.j much.’ 
Yours sincerely,
	        

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