Growth Policy in the Spirit of Steindl and Kalecki
AbstractThere are large differences between Steindl's ideas on growth policies and the Brussels/Paris consensus. Steindl called for innovation and education policies, whereas the mainstream today rather favours deregulation and privatization. Steindl stressed the positive demand-side effects of the public sector and the contribution of lower household savings and anticyclical policies to growth. The economic mainstream praises the efficiency effects of a declining public sector, the importance of high savings for investment and warns of active anticyclical policies being an impediment to budget consolidation. Steindl and the Keynesians regarded the labour market situation as a consequence of economic growth. Today many economists see low growth as a result of labour market rigidities. Copyright ï¿½ 2006 The Authors; Journal compilation ï¿½ 2006 Blackwell Publishing Ltd.
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Bibliographic InfoPaper provided by WIFO in its series WIFO Working Papers with number 240.
Length: 17 pages
Date of creation: 13 Dec 2004
Date of revision:
Growth Policy in the Spirit of Steindl and Kalecki;
Other versions of this item:
- Alois Guger & Markus Marterbauer & Ewald Walterskirchen, 2006. "Growth Policy In The Spirit Of Steindl And Kalecki," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 428-442, 07.
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