ALBERT

Notes: The Ordnance Survey makes extensive use of air survey in its mapping programmes at scales of 1 : 1250, 1 : 2500 and 1 : 10 000. A short history of the development of air survey within the Ordnance Survey leads into a description of current methods including the flying, processing and aerial triangulation tasks as well as the plotting of the maps by instrumental or graphical means.

Notes: A number of proposals have been put forward for the extraction of three dimensional data from a pair of electron microscope photographs taken from different angles. The methods used have, in general, been either point by point analyses or rather inconvenient. This paper shows that an existing photogrammetric plotter of topographic accuracy can, with very simple modification, be converted to give continuous plotting facilities from certain such micrographs.

Notes: The author reminisces upon a career of almost 40 years as a practising surveyor photogrammetrist, both as a Royal Engineer officer and as a director of a commercial survey organisation. The reminiscences include service with the Survey of India, war time operations in the Middle East and South East Asia Command, and commercial surveys of all types in developing countries. Professional service with international surveying and photogrammetric organisations is also mentioned, with particular reference to the fraternal aspects of international photogrammetry.

Notes: An increasing number of applications of photogrammetry are concerned with the analysis of models, constructed to simulate proposed or existing conditions in architecture and engineering. The paper draws attention to some of these projects and reports one example in detail.

Notes: The author describes the photogrammetric equipment in use by the Royal Commission on Historical Monuments (England), the methods used and the work that is being done in architectural recording. The difficulties and the possibilities of future architectural work in the United Kingdom are discussed and the achievements of some other countries in this field are reviewed.

Notes: The article discusses a general classification system applicable to digital ground models (D.G.M.) as used in highway design. Examples of the various categories are given, together with details of some advantages and disadvantages. The place of the D.G.M. in the highway design system is described in conjunction with traditional methods. The relationship between accuracy, density and economy of D.G.M. systems is examined. Finally an experiment is described which investigates the accuracy of various D.G.M. systems; it is being conducted by the Transport and Road Research Laboratory.

Notes: Book reviews in this article:OPTIMIZATION TECHNIQUES IN LENS DESIGN. By T. H. Jamieson.ADJUSTMENT BY LEAST SQUARES IN GEODESY AND PHOTOGRAM-METRY. By R. A. Hirvonen.AERIAL PHOTO-ECOLOGY. By J. A. Howard.PROCEEDINGS OF THE ISP COMMISSION IV SYMPOSIUM 1970. Editor J. Kure.

Notes: The use of aerial photography for hydrographic requirements is discussed, with particular reference to current circulation in an all water area. The paper examines the criteria and limitations imposed by an environment which is alien to normal topographic photogrammetry.

Notes: . This paper describes the meteorological patterns that produced the combination of heavy rains in August 1971 that resulted in record floods in New Jersey. Daily and hourly precipitation data and selected recurrence frequencies of rainfall amounts are tabulated. History of previous heavy rainfalls in New Jersey indicates that occurrences of very heavy rains are frequently associated with tropical disturbances. Flood damages, fatalities, warnings issued and areas of record river stages are summarized.

Notes: Book Reviews in this article:Dams and Other Disasters, by Arthur E. Morgan.Environmental Geology: Conservation Land Use Planning and Resource Management, by Peter T. Flawn.The Arid Zones, by Kenneth Walton.The Great Ocean Business, by Brenda Horsfield and Peter B. Stone.

Notes: . The task of resource management, in this case water resources, is rapidly becoming more complex, particularly because decision making is often contingent upon various prior activities and sets of data. Comprehensive planning is required in order to prevent misallocation of resources or mismanagement in resource development. Such planning involves five general phases which are applicable to any problem faced by society: (1) problem identification; (2) formulation of alternatives; (3) evaluation of alternatives; (4) implementation; (5) review. There have been many attempts to simplify the planning process and effectively carry out these five phases. The experience of the Alberta Water Resources Division has been that the Critical Path Method is one of the most useful tools available today for planning. It involves two basic steps: (1) preparation of a network diagram which (a) identifies all the activities necessary for the completion of a project, (b) correctly sequences these activities, (c) allocates resources; and (2) mathematical computations for scheduling the activities. In other words, this approach breaks a task down into smaller units or activities for easier organization, scheduling, and performance for eventual completion of the project. This paper will illustrate the effectiveness of the Critical Path Method by discussing its application to actual water resources projects.

Notes: . Two factors affecting the centralization of wastewater treatment facilities were investigated; the cost of collection and treatment systems and the performance of treatment plants. Based on computer-generated minimum cost designs, wastewater collection networks were found to be characterized by diseconomies of scale of magnitude similar to the reported economies of scale for wastewater treatment works. The combined costs of collection and treatment are U-shaped functions from which the least cost size of collection and treatment systems were found for particular values of population density. Examination of the day-to-day performance of five metropoitan-area waste-water treatment plants revealed that, for time series shorter than one month, the day-to-day variation in effluent quality was random, although the variation in quantity discharged was distinctly non-random. The performances of all five plants on any given day showed little correlation. This suggests that the decentralization of treatment facilities can produce benefits both through the reduction in quantities of waste discharged at a given point and through in-stream averaging of the varying performances of several treatment plants. Since the cost function of collection and treatment combined is generally flat in the region of the minimum-cost size, little penalty is invoked to gain the potential benefits of treatment plant decentralization.

Notes: . Studies to determine frequency characteristics of regulated streams at points within a stream system require the use of flow routing models. This study compares several different flow routing methods using data from six river reaches. Results indicate that approximate flow routing methods yield good flow estimates when compared with observed flows. The unit response method, recently introduced, performed as well as other approximate methods for all reaches studied and gave better results for reaches subject to power releases.

Notes: . Despite radical differences in water laws, water management agencies, approaches to water planning, and financial resources, Mexico and the United States forged a common program to manage water and related land on the Rio Grande. Actions of Rio Grande Commissions related to stream gaging, boundary definition, and multiple-purpose construction projects are among the more successful international water-management efforts in the world. Cost-sharing arrangements promoted rapid completing of international works. However, joint action accomplished only part of expectations. International developments were competitive rather than complementary until basin water appropriation was virtually complete. Moreover, Commissions were not empowered to consider long-range competitive water needs, or regional water requirements, throughout the basin. International groundwater use coordination does not exist. International structures produce less than anticipated benefits. Hydroelectric generators are financial liabilities, irrigated acreage exceeds dependable streamflow, and soil salinization is experienced. Unanticipated environmental changes occurred in every major program. The Rio Grande experience points to the need for society to specify goals to which the use of water should contribute and to specify priorities for water use among different sectors of river basins and various segments of society.

Notes: . Silver iodide is currently the most favored cloud seeding material in weather modification projects. While the literature indicates that its ecological effects are likely to be insignificant, its disposition in the terrestrial ecosystem after snow melt has not been adequately studied. Silver levels in soil, plant and litter material are being monitored twice a year on a mountainous area in southwestern Colorado, to determine whether annual accretion from cloud seeding can be measured with current techniques and whether significant changes in silver concentration take place in grass, aspen, and spruce communities. One AgI generator site is also being monitored.Comparison of silver concentrations in terrestrial components of the target area indicates no measurable increase after the first winter's seeding. On an ash basis, spruce foliage and litter contain about four times as much silver as soil. On a dry weight basis, soil from all three plant communities contains about six times as much silver as foliage. Consistent increases in silver concentration were found in soil and pine foliage within 200 meters of one generator site.

Notes: . New Jersey, together with other states in the northeast, was stricken with drought during 1961-66. The effect of this drought was most severe in the northern part of the State. The water quality of the Passaic River, which drains the urban, industrialized northeast, perhaps deteriorated the most among the major drainage systems. This river system is used as a raw-water source by 10 water suppliers. The impact of the drought upon the water supply of the Passaic Valley Water Commission, the most downstream of the basin's suppliers, which supplies an average of about 90 million gallons a day to more than 650,000 persons, is evaluated herein. The drought's impact on the raw-water quality is appraised by the comparison of before-and-after qualities of dissolved solids, dissolved oxygen, biochemical-oxygen demand, turbidity, and hardness. For example, at the worst point during the drought, monthly average dissolved-solids content in the raw water were about 210 percent, hardness, about 167 percent, and biochemical-oxygen demand about 270 percent higher than antecedent values. In general, the study concludes that the drought produced a deterioration in both raw and finished water quality, and is estimated to have increased chemical-treatment costs during the drought by about $650,000.

Notes: . Salinization and water logging have been the nemesis of irrigated agriculture societies since Babylonian times. Low quality water substitutes for high quality water for irrigation at an increasing rate up to the limits of the soil's ability to transmit the additional water and remove excess salts from the root zone. Soil transmissibility can be increased by additional investment in drainage ditches and underground tile. Low valued-high salt tolerant crops can be substituted for higher valued-salt sensitive crops to maintain production in areas served by irrigation water sources of deteriorating quality. Thus physical factors specify the necessary conditions for survival of an irrigated agriculture. The sufficient conditions for survival must be in terms of a positive net income in each subplanning period discounted to its present value.

Notes: . A promising technique for recognition of early stages of cultural eutrophication relies on determining production and respiration in streams. The most successful and most widely used method of estimating production of a segment of a stream is the upstream-downstream, diurnal curve method introduced by Odum [1956]. This technique is equivalent to obtaining an approximate solution to the oxygen balance equation. We report here an exact solution of the balance equation as a method for calculating primary production. Data presented by Owens [1966] are analyzed; effects of depth and oxygen saturation are studied. A major advantage of the method described here is that continuous temporal variation of net production may be rigorously handled. The method is shown to be well suited to our ultimate goal of studying energy budgets of streams, and thereby the eutrophication process.

Notes: This paper suggests a number of benefits in identifying urban and regional planners as a public in public participation programs of water resources planning studies. A perspective on public participation is presented. Recent trends and developing concepts are identified: emphasis on the need to coordinate urban and regional planning activities with water resources planning, increasing system complexity, the goals and objectives orientation of planning, planning for multi-objectives, the evaluation of a broader range of alternatives, and the consideration of water alternatives as only one set of measures to further society's aspirations. One way to assist in capitalizing on these trends is to seek out participation of those in other planning efforts who are involved in planning but on a different level. Because of their intimate knowledge of an areas history, growth and development, political climate, local perceptions of needs and desires, and major problems and issues they are able to contribute a great deal of insight in making the water resources planning effort more responsive at the local level. The paper describes one of the first major efforts at working-level public-planner contact which was carried out as part of the Susquehanna River Basin Study. A regional survey team comprised of an engineer and an economist from a federal agency and a state water resources planner met informally with planners, city managers, and local planning commissions to discuss issues related to water resources and the growth and development of local areas. This effort while only part of the overall public participation program yielded a number of benefits and if expanded and refined would be a very useful experience in other studies.

Notes: The use of linear programming as a planning tool for determining the optimal long-range development of an urban water supply system was explored. A stochastic trace of water demand was synthesized and used as an input to the model. This permitted evaluating the feasibility of imposing demand restrictions as an effective cost reduction mechanism. The City of Lincoln, Nebraska, was used as the urban model. The fundamental problem was to allocate limited water supplies from several sources to an urban load center to minimize costs and comply with system constraints. The study period covered twenty years, and findings indicate the planning direction for stage development during this period. Sensitivity analyses were performed on cost coefficients and demands. Thirteen sources were included in the initial computations. Conclusions were that linear programming and generated demand traces are useful tools for both short- and long-term urban water supply planning. Lowering peak demands results in long-range development of fewer sources of supply and more economic and efficient use of the supplies developed.

Notes: Use of systems analysis techniques for setting up flow regulation rules for the Oswego River System, a canal-river system with eight lakes, was examined. Two sets of lake regulation rules were proposed: the rule curve for each lake, and the lake-use priority curves for all the lakes. The former specifies balanced allocation of the storage in lakes to conservation pools and flood control pools and, the latter determines lakes releases depending upon the type of operation, the time of the year, and systems objectives. A generalized mathematical representation of the complex, multipurpose, multilake river systems operation is described. With appropriate measures of effectiveness and details of analysis, the problem was then solved with simulation and optimization. Use of the results in assisting basin plan formulation is also discussed.

Notes: Eight soil patterns are described which were visible on air photographs and which proved useful when mapping soils. They are of two types; those associated with former estuarine and coastal marshes and those formed during the last Ice Age. Some patterns are best recorded during spring when the ground is bare of crops but others show only as crop patterns during summer.

Notes: The CP1 plotter has been described in an earlier paper†, referred to below as N.P.P. (Thompson, 1971), and here we continue with an examination and outline of the setting procedure and give some results obtained with the first production instrument. A feature of the setting procedure is its close resemblance to that used with the normal, “intersection type”, plotters although the latter differ considerably in principle and construction from the CP1. The results speak for themselves.

Notes: Close up photographs of the lunar surface obtained by the Apollo 14 astronauts presented unusual problems in relative orientation caused by essentially different directions of the camera axes. The problem was resolved by dividing each large unknown rotation into two parts, one of which was a large known part and the other was a small unknown part. The method succeeds when the unknown rotation elements can be initially estimated to about 10°.

Notes: In analytical methods of photogrammetry, plate co-ordinates are obtained from stereocomparator and monocomparator observations. These specialist instruments are too costly an investment for small organisations. The paper describes a method of obtaining plate co-ordinates from model co-ordinates and gives the results of a test experiment.

Notes: Book reviews in this article:SPECULAR REFLECTION. By E. P. Lavin.CLOSE RANGE PHOTOGRAMMETRY.THE OPTICAL TRANSFER FUNCTION. By K. R. Barnes.AUTOMATIC CARTOGRAPHY AND PLANNING. By The Experimental Cartography Unit, Royal College of Art.INTERNATIONAL YEARBOOK OF CARTOGRAPHY.THE ACCURACY OF PHOTOG RAM METRIC CO-ORDINATE MEASUREMENTS IN MOUNTAINOUS TERRAIN. By R. Fourstner.ORBITAL PHOTOGRAPHY AS APPLIED TO NATURAL RESOURCES SURVEY. By R. A. van Zuidam.THE APPLICATION OF AERIAL PHOTOGRAPHY TO THE WORK OF THE NATURE CONSERVANCY.TOPOGRAPHIC MAP AND AIR PHOTO INTERPRETATION. By E. D. Chevrier and D. F. W. Aitkens.AERIAL PHOTO INTERPRETATION. By G. B. Sully.COLOR AERIAL STEREOGRAMS OF SELECTED COASTAL AREAS OF THE UNITED STATES. By H. R. Cravat and R. Glaser.

Notes: Andel, Norbert: Subventionen als Instrument des finanzwirtschaftlichen Interventionismus Barth, Hans Joseph: Zum Einfluss der schleichenden Inflation auf das wirtschaftliche Wachstum Bauer, Raymond A., und Gergen, Kenneth J. (Hrsg.): The Study of Policy Formation Bertin, Gilles-Y.: L'investissement public international Burger, Anna: Economic Problems of Consumer's Services Carter, C. F., and Ford, J. L. (Eds.): Uncertainty and Expectations in Economics Clayton, G., Gilbert, J. C., and Sedgwick, R. (Eds.): Monetary Theory and Monetary Policy in the 1970s Cooper, R. A., Hartley, K., and Harvey, C. R. M.: Export Performance and the Pressure of Demand Fest, Hartmut E.: Zur gesamtwirtschaftlichen Konsistenz des Entschei-dungskriteriums für die Auswahl öffentlicher Investitionen Fleming, J. Marcus: Essays in International Economics Gandolfo, Giancarlo: Mathematical Methods and Models in Economic Dynamics Golay, Frank H., Anspach, Ralph, Pfanner, M. Ruth, and Ayal, Eliezer B.: Underdevelopment and Economic Nationalism in Southeast Asia Hahn, F. E. (Ed.): Readings in the Theory of Growth Hayami, Yujiro, and Ruttan, Vernon W.: Agricultural Development Herndon, James F., and Bernd, Joseph L. (Eds.): Mathematical Applications in Political Science V Ingham, Geoffrey K.: Size of Industrial Organization and Worker Behaviour Keller, Heinz E.: Die Funktionsfähigkeit des Wettbewerbs zwischen Schiene und Strasse im Güterverkehr Kregel, J. A.: Rate of Profit, Distribution and Growth: The Two Views Kruse-Rodenacker, Albrecht: Die Stunde der Aussenseiter Laulan, M. Yves (Ed.): Prospects for Soviet Economic Growth in the 1970s Lele, Uma J.: Food Grain Marketing in India Margolis, Julius (Ed.): The Analysis of Public Output Mattick, Paul: Marx und Keynes Pauly, Mark V.: Medical Care at Public Expense Porstmann, Reiner: Zur Theorie der Nachfrage Ringstad, V.: Estimating Production Functions and Technical Change from Micro Data Romig, Friedrich: Die ideologischen Elemente in der neoklassischen Theorie Ronge, Volker, und Schmieg, Günter (Hrsg.): Politische Planung in Theorie und Praxis Schremmer, Eckart: Die Wirtschaft Bayerns Solari, Luigi: Théorie des choix et fonctions de consommation semi-agrégées Spulber, Nicolas: Socialist Management and Planning Taira, Koji: Economic Development and the Labor Market in Japan Ulman, Lloyd, and Flanagan, Ro bert J.: Wage Restraint: A Study of Income Policies in Western Europe Westphal, Uwe: Theoretische und empirische Untersuchungen zur Geldnachfrage und zum Geldangebot Wilson, Robert R.: International Law and Contemporary Commonwealth Issues Yanaga, Chitoshi: Big Business in Japanese Politics Yudelman, Montague, with Howard, Frederic: Agricultural Development and Economic Integration in Latin America

Notes: In addition to the papers of Granger and Morgenstern concerning the development of stock prices at the New York and London stock market, German stock prices were analyzed by means of the method of spectral analysis using both direct and indirect estimation procedures. It is shown that short-run movements can suitably be described by the well-known random-walk model. In contrast, the long-run movements show cycles corresponding to the business cycles in the Western German economy. One of the results of the phase analysis is the lead of the stock market against the general business activity.

Notes: The Economic Theory of German neoliberalism comprises a certain conglomerate of an absolutely free choice of selecting an economic system on the one hand and a definite determination of the economic policy that results of this choice on the other; this conglomerate prevented the theory of neoliberalism to become a valid theory of economic policy. The former German neoliberalism reduces the categories of aims and means to the choice of the economic system, an unhistorical approach, because such a choice never happened at all. But such an approach enabled the neoliberal authors to reduce any economic policy to only conservate the market system. Even the modern approach of separating qualitative and quantitative policies pursues the same intentions: although indefensible positions vanished under the impression of Keynesian theories, nevertheless the definition of a genuine qualitative policy implicates that the latter has the function of conservating the market system. This distinction of qualitative and quantitative policy has another meaning than in the system of Tinbergen. Since the criteria of separation are ambiguous, even the modern approaches of German neoliberal economic policies remain inadequate compared with the modern theory of economic policy a la Tinbergen.

Notes: The higher degree of description is reached when a field becomes amenable to the use of the axiomatic method. In economics this state has been reached only recently in the establishment of a numerical utility. In general, it is difficult to know what to describe and how to measure; both require precise concepts. Current economic descriptions lack both very often, in particular the whole area of psychological factors, decisions, etc., escape the essentially physical descriptions of economic phenomena.Good predictions are the ultimate test of theory but also false theories often have a surprising power to predict. Thus, this matter is much more complicated than normally assumed.Even descriptive theories can be interpreted as ‘normative’ provided they are convincing to the user. The implied norm is often a prohibition, as for example, in the statement that one should not try to build a perpetuum mobile. If a state of society is commonly accepted which sanctions private property, then the norm follows that one ought not to steal. This is different from normative value statements that derive solely from other norms.

Notes: When factor intensities differ among products, and factor supplies are constant, factor shares vary with the composition of output. But if the proportions in which factors are owned vary from one consumer group to another, the economy's product-mix itself may be a function of factor shares.A simple geometric model is developed to demonstrate the simultaneous determination of income distribution and output structure. It is then shown that transfers of income, by changing the product-mix, may cause a further change in income distribution. With consumers preferring goods intensive in the factor they own, an income transfer's redistribution effects are enhanced; with them preferring goods intensive in factors owned by others, income transfers are partially frustrated.

Notes: Is the sentence by Friedrich List that economic and political unions are twins still valid, has it ever been? Starting with this question the author analyses the history and present state of the European Economic Community. Its development hitherto appears to have refuted List's words. A political union evolves from an economic union only if unity is secured by political and military forces. These forces and the necessary renouncement of sovereign rights could not be established by the European states.The author stresses particularly the problems of international finance and monetary reform. On their solution may depend the future of the European and even world economy. One important element of a new monetary system would be an European monetary union. As a condition, however, not only a common monetary policy but also common economic, transport, social and educational policies are required. Offences against these conditions are numerous. The author condemns above all independent actions by single member countries in matters of revaluation and floating of their currencies. He demands a fixed European monetary unit and the foundation of an European central bank on the basis of gold.

Notes: Defining steady-state growth as stationary proportionate rates of growth, defining balanced growth as stationary mutual proportions between physical output of all goods, defining equilibrium as zero excess demand, and defining stability as a tendency for equilibrium to restore itself if disturbed, the paper tests a neoclassical two-country growth model for steady state, balance, and stability. The model uses prices and the exchange rate as equilibrating variables and admits consumer preferences, disparity of rates of technological progress, and disparity of rates of growth of labor forces. Growth is found to be steady-state, unbalanced, and stable.

Notes: This paper ties together two recent important contributions to the analysis of fiscal federalism, namely when public goods spillovers and tax exportation exist simultaneously. In a two-region analysis, with resources immobile, the analysis demonstrates that it may be to the advantage of a net tax ‘importing’ region to remain in a federation whenever the net tax ‘exporting’ region increases its production of a mutually beneficial good or service. Relaxing the assumption of resource immobility, the paper investigates the conditions in which a tax ‘importing’ region may find itself ‘better off’ than in the no tax ‘importation’ case.This paper also investigates standard notions of tax efficiency and illustrates that with tax exportation, previous notions of tax efficiency must be qualified. Furthermore, it is shown that due to tax distortions, it is possible for all parties to be made ‘better off’ through some form of tax harmonization, but it is to the advantage of no single region to correct its tax distortions.

Notes: Adler-Karlsson, Gunnar : Der Fehlschlag.Bagchi, Amiya Kumar: Private Investment in India 1900-39.Bairoch, Paul : Le Tiers-Monde dans l'impasse.Bell, Harry H. : Tariff Profiles in Latin America.Blase, Melvin G. (Ed.): Institutions in Agricultural Development.Boehm, E. A. : Prosperity and Depression in Australia 1887-97.Bottomley, Anthony : Factor Pricing and Economic Growth in Under-developed Rural Areas.Braun, Rudolf: Sozio-kulturelle Probleme der Eingliederung italienischer Arbeitskräfte in der Schweiz.Burger, Albert E. : The Money Supply Process.Claassen, Emil M. : Probleme der Geldtheorie.Cline, William R. : Economic Consequences of a Land Reform in Brazil.Davis, J. Ronnie: The New Economics and the Old Economists.Dunning, John H. (Ed.): The Multinational Enterprise.ErdÖs, Peter: Contributions to the Theory of Capitalist Money, Business Fluctuations and Crises.Fisher, Malcolm R. : The Economic Analysis of Labour.Geiger, Willi, HÖhn, Ernst, Kneschaurek, Francesco, Meier, Alfred, und Nydegger, Alfred (Hrsg.): Der wirtschaftende Staat.Gold, Joseph : The Stand-By Arrangements of the International Monetary Fund.Hadley, G., and Kemp, M. C. : Variational Methods in Economics.Homans, Georg C. : Grundfragen soziologischer Theorie. Aufsätze.Isard, Walter, and Langford, Thomas W. : Regional Input-Output Study.Johnson, Harry G. : Aspects of the Theory of Tariffs.Kebschull, Dietrich, unter Mitarbeit von Fasbender, Karl, und Naini, Ahmad : Entwicklungspolitik.Kunstman, A. : Truncation of Long- Term Decision Models.Lompe, Klaus : Gesellschaftspolitik und Planung.Male, D. J. : Russian Peasant Organisation before Collectivisation.Niskanen Jr., William A. : Bureaucracy and Representative Government.Pattanaik, Prasanta K. : Voting and Collective Choice.Robinson, Joan : Economic Heresies.Robson, P. (Ed.): International Economic Integration.Rogers, David : The Management of Big Cities—Interest Groups and Social Change Strategies.Rohrmann, Elsabea: Max von Schinckel.Serck-Hanssen, Jan : Optimal Patterns of Location.Reutlinger, Shlomo: Techniques for Project Appraisal under Uncertainty.Sheppard, D. K. : The Growth and Role of U. K. Financial Institutions 1880-1962.Socher, Karl : Koordination des Einsatzes geld- undfinanzpolitischer Instrumente.Turvey, Ralph: Demand and Supply.Wadbrook, William Pollard: West German Balance-of-Pqyments PolicyWambach, Manfred Max : Verbändestaat und Parteienoligopol.Zimpel, Gisela: Selbstbestimmung oder Akklamation?

Notes: A number of debates have taken place among Western economists about efficient allocation under ‘socialism’, interplay of objectives and controls under alternative modes of socialist organization’, and about ways of classifying ‘socialist’ changes and transitions. The paper presents the main thrusts of these debates and examines various interpretations of the concept of a ‘socialist economy’ including those originating in the Soviet Union and Eastern Europe. The study is comprised of three parts. The first considers the attempts to define polar types of ‘socialist organization’. The second discusses efforts to ascertain the rationale of socialist changes and to determine the direction of such changes. The third examines the key problems involved in the transition from one system to another.

Notes: Does export instability interfere with economic development? Work by McBean answers in the negative. He finds no systematic relationship between instability and economic growth. This paper asks three questions about McBean's work: (1) Has he measured the relevant variables appropriately? (2) Were special factors at work in the period he studied (1950-58) ? (3) Was his sample of countries representative? It presents a broader statistical analysis, using a different index of instability, two decades of data, and more countries. In general, the findings do not contradict McBean. But calculations using different time periods (1950-66 and 1956-67) do produce some evidence of interference. Furthermore, the paper finds one new relationship—a strong inverse connection between instability and the level of investment in developing countries.

Notes: The article focusses on a methodology for revealing policy preference functions pertaining to the subjective trade-off between unemployment and price stability. Community group indifference maps are constructed by a method of policy pairwise comparison. An empirical application is envisaged in a Canadian context with reference to the preference functions of business and tradeunion groups. Optimal group policy configurations are derived by maximizing the preference functions subject to the relations of the ‘trade-off zone’. The effects on unemployment and inflation are analysed in terms of parametric variations of the preference function and the Phillips curve. The underlying policy implications are discussed.

Notes: The purpose of this paper is to present a new hypothesis to explain the excess demand for labour in an economy with large foreign labour immigration. Home and foreign labour force are not homogeneous. Starting from this preliminary observation, the authors were finally led to propose a new indicator for the excess demand for labour, consisting of the relationship between the foreign labour force and the home labour force of the preceding period. Empirical testing of this hypothesis for the case of the Swiss economy has given satisfactory results.

Notes: Government authorities outside the U. S. have two important incentives to hold the values of their currencies in terms to dollars below the equilibrium rate. First, their export and import competing industries are able to place considerable political pressure on the authorities to keep an undervalued rate whereas consumer interests are so diffuse that they exert little pressure for an overvalued rate. Secondly, the authorities themselves would rather have too many reserves than too few.This paper demonstrates that these two forces do not produce a devaluation bias against the dollar except over a transitional period.

Notes: Full employment models proliferate in economic journals while excessive unemployment (U. S. and Canada, 1969-71) troubles some major (and many under-developed) economies. As in Keynes’ time, the analytic work is often at odds with reality. Patinkin, for example, decleares that ‘the labor market… does not interest us’ and that ‘its sole function is to provide the benchmark of full employment’. For Patinkin, and others, full employment exists apparently only by assumption. The implicit mechanism assumes that labor market bargains are made in real terms and, in describing the ‘equilibrium’ tatonnement, a fictional change in money wages is imposed while product prices are assumed to remain constant.Keynes rejected this ‘analysis’ on the grounds that higher (lower) money wages must lead to higher (lower) prices with, at best, limited employment effects ultimately analogous to monetary manipulations. Yet Keynes’ remarks on this vital matter are commonly ignored, even in ‘Keynesian’ models.This matter is reopened inasmuch as the analysis has profound policy implications. On the theoretical level it is also demonstrated that on plausible behavioral grounds Lange's representation of a perfectly elastic labor supply function (over some range) is defensible. Patinkin's supply points ‘off’ the supply function really entails a misspecification of the appropriate function.

Notes: Solow's famous contribution to the theory of economic growth is based on the assumption that the savings proportions are the same for all income earners. In this study this restrictive premise is replaced by the assumption that the savings proportions vary according to the different groups of income earners.This paper sets out to analyse the resultant consequences for the long-run equilibrium growth. One essential result is that both the overall savings proportion and the capital-output-ratio are flexible. Their steady-state solutions are, in contrast to the respective solutions in Solow’s original paper, dependent on the form of the production function.Moreover, there can be derived certain conditions for the special long-run equilibrium of the Neo-Classical Theorem, which are implying no specific restrictions on the savings proportions of the various groups. Besides, there is shown that on these conditions not only a maximum of total consumption per man is achieved but also an equal distribution of consumption among all groups.

Notes: Even with unchanged technology and under ceteris paribus conditions, fixed capital cost per unit of output will not remain constant. Production becomes less and less costly as the rate of growth increases. This means that for a given output and in order to keep the output capacity unimpaired in a specified period of time a smaller amount of real resources has to be spent in an economy growing more rapidly. The marginal efficiency of gross investment increases. It is further increased by technological progress, which may be taken as an increasing function of gross investment.Due to the limited absorptive capacity of any economy (and quite apart from the capital saturation phenomenon, which in a relatively small open economy may be neglected) diminishing returns set in, they eventually outweigh increasing returns mentioned above and for a sufficiently high rate of growth the economy reaches the point where mei= 0. This is the point of the maximum rate of productive investment.This is also most likely the point of the optimum rate of investment, because consumption effects are such that we may reasonably expect the population to accept this policy as the most desirable.

Notes: The article considers the hypothesis that the timing and distinctive provisions of the EEC and EFTA disturbed relative earning rates, P, and thus influenced the location of U. S. direct investments. Statistically significant results are obtained with Pt-1, P, and Pt+1 for investment in both unions, suggesting that adequate levels of return were associated with the structural transatlantic relocation of capital. However, the evidence contradicts the claims that investors were motivated by profit differentials in a short-run sense, or that relative earnings pre-destined the investment location.An additional test finds great similarities in the time pattern of U. S. investment in the EEC and EFTA. Moreover, the outcry about the American investment invasion overlooked an actual reversal of the preferential view of Europe relative to the rest of the world around 1960.Thus, artificial trade distortions introduced by the EEC and EFTA apparently have been insignificant in global business strategies that regard Europe as a homogeneous technological-industrial complex and a unified market.

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