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full employment saving by a change in income distribution 
or stimulating useful investment. Either of these methods 
would be suitable, in principle, to absorb the large 
unemployment. With regard to the first I have already 
indicated the usefulness of studies of inequality of 
income and saving, and such studies might also throw some 
' • 
light on the feasibility of policy measures designed to 
reduce inequality. 
The second alternative is linked up with the wider question 
of technology policy. Kaleck |/in his writings on the trend 
regarded innovations as the main stimulus to growth. 
This justifies looking at technology policy as a possible 
instrument for the stimulation of investment. Technology 
policy is based on the conviction that the technical 
development can be influenced according to the desiderata 
of public policy such as environmental aims, preference 
for saving of material and energy rather than saving of 
labour, desirable life styles, working and soeial conditions etc. 
The national struggle for markets need not be the prime aim, 
although it will be legitimatefor countries with chronic 
balance of payments deficits. 
Technology policy involves a systematic study of technical 
possibilities and capabilities of industrial firms.lt will 
further the application of new technology by information 
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and coordination, striving at"synergy, and combination of 
complementary developments. This corresponds very much to 
Keynesian thinking: We can expect results from better 
information of entrepreneurs and from greater confidence