Full text: Some Comments on the Politics of Full Employment.

military; this is what prevailed in socialism so far.Its defect is 
that it has insufficient feed back from below. The second works by 
creating certain expectations which are spread through a society 
by imitation and stimulation like an epidemic. This is the free 
market pattern,more specifically that of monetary control.As we 
have seen it involves great instabilities. The third method which 
so far is only a possibility, is a suitable combination of central 
planning and control and individual initiative. 
This not yet existing method of macroeconomic policy will have to 
wrestle with ,among others, the following problems: First, 
communication, especially the feed back from below to the centre. 
It is imperious to distinguish between macroeconomically relevant 
information and white noise. Therefore it is necessary to filter 
the information before it is passed upwards by stages from the 
field to the centre. The filtering has always to be done by the 
lower level so that the centre receives only the information which 
is relevant. "Burocracy" in fact often means being submerged in 
irrelevant details and being incapable of deciding what is 
important. The information partly takes the form of statistical 
data and its organisation is crucial for the functioning of an 
efficient administration. Naturally computers will be of great 
help but what is probably more important is a certain level of 
eduction and a special culture. 
Second, The reconciliation of central planning with individual 
initiative requires a certain degree of consensus. People must be 
enabled to understand why they have to submit to certain 
restrictions of their activities, they must make conscious 
compromises. To give an example, in a situation of overfull 
utilisation of resources they must be convinced of the fact that a 
mad struggle for the scarce goods will not help them and some kind
	        

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