Suchergebnisse

This book presents an overview of national economic policies in the world's most important countries or groupings of countries. The purpose of the volume is to examine and compare the policies followed by different types of countries and study their effects. Although numerous studies have been published on how individual countries conduct economic policies, few if any comparative studies, such as the present one, have been issued. This volume will be of great use to students of comparative economic systems in general and to economists, policymakers, and the general informed public as a source of reference and comparison.

This collection of essays is a plea for a renewal of policies based on the most fundamental ideas of Keynes as well as on recent developments in economic theory. The papers were first given at an international conference to commemorate the centenary of the birth of John Maynard Keynes.

THE APPEARANCE OF A NEW PARTY WITH THE WEIGHT AND MOMENTUM OF THE SOCIAL DEMOCRATS (SDP) IS A RARE EVENT IN BRITISH POLITICS, AND THERE IS MUCH PUBLIC INTEREST IN THE POLICIES WHICH SUCH A GOVERNMENT MIGHT PURSUE, ESPECIALLY IN THE ECONOMIC FIELD. THIS ARTICLE IS AN ATTEMPT TO FORESEE WHAT THE POLICIES MIGHT BE, AND CONSIDERS WHETHER THEY ARE LIKELY TO BE ADEQUATE AND CONSISTENT. IT IS WRITTEN BY A MEMBER OF THE SDP WHO HAS TAKEN NO ACTIVE PART IN ITS POLICY FORMULATION AND WHO HAS NO COMMITMENT BEYOND A GENERAL WELCOME FOR THIS TURN IN BRITISH POLITICS.

SUMMARYAssumptions concerning the political behaviour of voters and politicians have first been made by A. Downs. Using these assumptions and considering several structural characteristics of democracy, the author of this paper attempts to develop some tendencies of economic policy. Since these tendencies are not only subject to the political but also to the economic situation of the country in question, additional assumptions upon the structure of economy have to be made. The present paper deals with a growing economy; it is assumed to work on a high level of diversification and consumption. Some sectors expand however only slowly, others even decline. Given these assumptions, the governmental economic policy will favour I. sectors with low rates of growth, and 2. sectors with low capital/ employment ratios. There exist, however, priorities about the measures to be taken: Import restriction is preferred to export promotion, export promotion to a policy of public buying and storing; even less estimated are public subsidies (provided costs of storing can be neglected and/or elasticities of demand and supply are low). The paper finally shows, how the tendencies of economic policy vary by changing political and economic structures of democracy.