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Growth Policy In The Spirit Of Steindl And Kalecki

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  • Alois Guger
  • Markus Marterbauer
  • Ewald Walterskirchen

Abstract

There 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 © 2006 The Authors; Journal compilation © 2006 Blackwell Publishing Ltd.

Suggested Citation

  • 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, July.
  • Handle: RePEc:bla:metroe:v:57:y:2006:i:3:p:428-442
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    Cited by:

    1. Arno Tausch & Almas Heshmati, 2012. "Migration, Openness and the Global Preconditions of "Smart Development"," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 26(2), pages 1-62.
    2. Karl Aiginger, 2008. "The Impact of Competition on Macroeconomic Performance," Chapters,in: The Economics of Corporate Governance and Mergers, chapter 14 Edward Elgar Publishing.
    3. Eckhard Hein, 2017. "Stagnation policy in the Eurozone and economic policy alternatives: A Steindlian/neo-Kaleckian perspective," Working Papers 10/17, Sapienza University of Rome, DISS.
    4. Eckhard Hein, 2017. "Stagnation policy in the Eurozone and economic policy alternatives," FMM Working Paper 05-2017, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    5. Tausch, Arno, 2011. "The efficiency and effectiveness of social spending in the EU-27 and the OECD – a 2011 reanalysis," MPRA Paper 33516, University Library of Munich, Germany.
    6. Eckhard Hein, 2016. "Secular stagnation or stagnation policy? Steindl after Summers," PSL Quarterly Review, Economia civile, vol. 69(276), pages 3-47.
    7. Karl Aiginger & Alois Guger, 2005. "The European Socio-Economic Model. Differences to the USA and Changes over Time," WIFO Working Papers 266, WIFO.
    8. Tausch, Arno, 2016. "‘Smart development’. An essay on a new political economy of the environment," MPRA Paper 70204, University Library of Munich, Germany.
    9. Tausch, Arno, 2011. "The ‘four economic freedoms’ and life quality. General tendencies and some hard lessons for EU-27-Europe," MPRA Paper 33225, University Library of Munich, Germany.
    10. Hilal Ozen & Ismail Kaya, 2013. "Reconsidering Migration, Globalization and Social Conditions in the World System," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 27(2), pages 31-64.

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