The London School of Economics and Political Science 
(University of London) 
Houghton Street, 
London, WC2A 2AE 
Telephone: 01-405 7686 
Department of Economics 
SG/HN 
2nd June, 1976. 
Professor J. Steindl, 
A-1103 Wien, 
Postfach 91, | 
AUSTRIA. 
Dear Professor Steindl, 
Thank you for your letter of 26th May. 
Your two closely connected points - about the solution not forgetting 
the initial conditions and about the process not being ergodic - are quite 
correct and persuasive; they indeed seem to speak against the equation with 
the forward argument. 
A week or so ago I sent a new version of the paper to the Oxford 
Economic Papers. Compared with the version you have got, the new version 
has a new section entitled "Concluding Remarks", which was written in 
response to your first letter. It has also been cleared of some obvious 
linguistic errors. I hope to have a reply from the Editors in about three 
months. 
I think it is a splendid idea that you write a comment on this paper 
as soon as we know that it is going to be published. It will force me to 
think again about the link between the trend and business fluctuations 
within the framework of Kalecki's models. Your comments have already 
helped me a great deal (after Kalecki and Joanna - my wife - you are the 
first person with whom I have had a proper discussion of the paper), but 
clearly thev must be of wider interest? 
With best wishes, 
Yours sincerely, 
NA, A cnhen 
Stanislaw Gomulka 
2.5. 
I enclose for you a copy of the new version. 
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