ALBERT

Notes: AS long as economics is conceived as a purely formal science of human action (praxeology) the basic concepts and findings of such behavioral sciences as psychology, sociology and cultural anthropology will be considered as irrelevant for economic analysis. However, if economics is considered as an empirical (substantive) science which starts from actual human needs and places man's dependence upon and interaction with his natural and social environment in the center of its investigation, the basic concepts and conclusions of the behavioral sciences cannot be dispensed with.ZUSAMMENFASSUNGNationalökonomie und die Wissenschaften vom menschlichen Verhalten. So lange die Nationalökonomie als eine rein formale Wissenschaft vom menschlichen Handeln (Praxeologie) begriffen wird, erscheinen die grundlegenden Konzeptionen und Erkenntnisse der Verhaltenswissenschaften wie der Psychologie, der Soziologie und der Kulturanthropologie für die ökonomische Analyse als irrelevant. Wenn indessen die Nationalökonomie als wirklich empirische Wissenschaft betrachtet wird, die von den tatsächlichen menschlichen Bedürfnissen ausgeht und die Abhängigkeit des Individuums von seiner natürlichen und sozialen Umgebung sowie deren Wechselwirkung in den Mittelpunkt ihrer Forschungen stellt, so können die grundlegenden Konzeptionen und Folgerungen der Verhaltenswissenschaften nicht übergangen werden.RÉSUMÉĽ economie politique et les sciences du comportement humain. Tant que ľéconomie politique sera concue comme une science purement formelle de ľ action humaine (praxéologie), les concepts fondamentaux et les découvertes des sciences du comportement humain telles que la psychologie, la sociologie et ľ anthropologie culturelle seront considéréd comme de peu ď importance pour ľ analyse économique. Cependant, si ľéconomie politique est considérée comme une science effectivement empirique qui part des besoins humains réels et place la dépendance de ľ homme de son ambiance naturelle et sociale ainsi que ľ action réciproque de cette dernière au centre de ses recherches, les conceptions et conclusions fondamentales des sciences du comportement humain ne peuvent etre négligées.The question then arises as to the proper method by which the results of one field of inquiry can be utilized in another. Such integration is possible only if we find or formulate common denominator concepts sufficiently broad to contain and cut across the subject-matter of several social disciplines. Which particular concepts are likely to prove useful for a “substantive” science of economics depends upon the nature of the central research problems of contemporary economic analysis. Since these germinal questions of modern economics are all related to the behavior of social groups and of individuals acting as members of structured social entities the basic concepts and findings of social psychology and cultural anthropology are likely to prove most useful for the substantive-empirical economist.Having outlined the major concepts which have proved helpful in the analysis of group decisions and the individual-group relationship the article concludes by setting forth the thesis that a substantive science of economics must be conceived from the very outset as an integral part of a science of man and culture. Such a “humanization” of economics would have the task of placing the living human being once more in the center of economic analysis and, at the same time, would provide a starting point for the solution of the urgent task of integrating our contemporary knowledge about man and culture.Es stellt sich dann die Frage, durch welche Methode die Ergebnisse des einen Forschungsgebiets im andern verwendet werden können. Eine solche Integration ist nur dann möglich, wenn für die verschiedenen Konzeptionen gemeinsame Nenner gefunden oder formuliert werden können, die weit genug sind, um den Gegenstand verschiedener Sozialwissenschaften zu umfassen. Welche Konzeptionen sich für eine wirklich empirische Wissenschaft als nützlich erweisen dürften, hängt von der Natur der zentralen Forschungsprobleme der heutigen ökonomischen Analyse ab. Da alle diese grundlegenden Fragen der modernen National ökonomie sich auf das Verhalten sozialer Gruppen und des Einzelnen beziehen, die als Glieder sozialer Gebilde von bestimmter Struktur handeln, dürften die grundlegenden Konzeptionen und Erkenntnisse der Sozialpsychologie und der Kulturanthropologie für den empirischen Ökonomen von grossem Nutzen sein.Nach einer Skizzierung der hauptsächlichsten Konzeptionen, die sich für die Analyse von Gruppenentschlüssen und der Beziehung zwischen Individuum und Gruppe als nützlich erwiesen haben, wird die These aufgestellt, dass eine wirklich empirische Nationalökonomie von allem Anfang an als ein wesentlicher Teil einer Wissenschaft vom Menschen und der Kultur begriffen werden muss. Eine solche “Humanisierung” der Nationalökonomie hätte zur Aufgabe, den Menschen - so wie er in Wirklichkeit ist - in den Mittelpunkt der ökonomischen Analyse zu stellen, und würde gleichzeitig den Ausgangspunkt darstellen für die Lösung der dringenden Aufgabe, unser gegenwärtiges Wissen über den Menschen und die Kultur zu integrieren.La question se pose alors de savoir par quelle méthode les résultats ď un domaine de recherche peuvent etre utilisés dans ľ autre. Une telle intégration n'est possible que si nous trouvons ou formulons pour les différentes conceptions des dénomina-teurs communs suffisamment larges pour contenir ľ objet des diverses sciences sociales. Quelles sont les conceptions pouvant se révéler utiles pour une science réellement empirique, voilà qui dépend de la nature des problèmes majeurs de recherches de ľ analyse économique actuelle. Comme toutes ces questions fondamentales de ľéconomie politique moderne se rapportent au comportement de groupes sociaux et de particuliers agissant en tant que membres ď entités sociales ď une structure déterminée, les conceptions fondamentales et les découvertes de la psychologie sociale et de ľ anthropologie culturelle devraient etre ď une grande utilityé pour ľéconomiste empirique.Après avoir esquissé les principales conceptions qui se sont révelées utiles àľ analyse des décisions de groupes et des rapports entre ľ individu et le groupe, ľ article se termine par ľnonce de la these qu'une Economic politique reellement empirique doit etre concue des Tabord commcar; part intégrante ď une science de ľ homme et de la culture. Une telle “humanisation” de ľéconomie politique aurait pour tǎche de placer ľ homme - tel qu'il est en réalité - au centre de ľ analyse économique et représenterait simultanément le point de départ de la solution de la tǎche urgente consistant à intégrer notre connaissance actuelle de ľ homme et de la culture.

Notes: In recent years there has been a great development of interest in the principles and the problems of rational decision-making and rational action. Economists, mathematicians, statisticians, logicians, engineers, and philosophers have all addressed their efforts to various phases of the general problem of rationality. This paper attempts a provisional synthesis of their basic results so far, in the form of a suggested preliminary definition of rationality that is sufficiently general to be applicable in all circumstances.ZUSAMMENFASSUNGBeitrag zu einer allgemeinen Definition des rationalen Handelns In den letzten Jahren ist ein zunehmendes Interesse an den Grundlagen und den Problemen der rationalen Entschlussfassung und rationalen Handelns festzustellen. Ökonomen, Mathematiker, Statistiker, Logiker, Ingenieure und Philosophen haben ihre Anstrengungen auf verschiedene Phasen des allgemeinen Problems des Rationalen gerichtet. Die vorliegende Studie macht den Versuch einer vorläufigen Synthese der bisherigen grundlegenden Ergebnisse in Form einer vorläufigen Definition des Rationalen, die genügend allgemein ist, um unter jeglichen Bedingungen anwendbar zu sein.RÉSUMÉRecherche ď une définition générate de ľ ction rationnelle. Durant ces dernières années, ľ intéret s'est fortement accru pour les principes et les problèmes relatifs à la décision rationnelle et àľ action rationnelle. Des économistes, des mathématiciens, des statisticiens, des logiciens, des ingénieurs et des philosophes ont concentrés leurs efforts sur les différentes phases du probléme général de la rationalité. La présente étude constitue un essai de synthèse provisoire des résultats fondamentaux obtenus jusqu'ici, sous la forme ď une définition préliminaire de la rationalité, par ailleurs suffisamment générale pour etre applicable dans toutes les circonstances.The general definition of rationality, to be usable for “practical” decisionmaking, must take full cognizance of each of the following characteristics of the “real” world, at least: the time-dimension of action and of the consequences of the action; the multitudinous side-effects of an action; the inevitable uncertainty of the “actor” in connection with the alternatives of action open to him and the consequences of each of these; the costs of information-gathering; the costs of performing logical operations; the variety of the value-criteria of different actors; the changes in the value-criteria of any given actor over time; and the “tastes” of the actor in relation to time-preference, risk-taking, logical processes, and the facing of uncertainty. The definition of rationality should specify the course of action which, in the light of all these factors, is the “best” one.The present suggested definition outlines a “rational” procedure for choosing one from among the set of all known possible actions, where the word “action” refers to a particular time-sequence of (a) acting (in the usual sense), (b) information-gathering, and (c) logical analysis. The procedure consists, roughly, of these four steps: (1) the specification of the set of known possible actions; (2) the determination, for each of the actions, and using all available relevant information, of the set of all possible consequences of that action and their respective probabilities; (3) the evaluation, in the light of the relevant value-criteria, of each of the possible consequences of each of the possible actions; and (4) the derivation from (3) of the “correct” action to be adopted. In carrying out these steps we employ a logical construction patterned after those of Carnap, Hempel and Oppenheim.For the sake of greater understandability, the definition is presented in two stages. The appendix to this paper contains a (grossly oversimplified) illustration of the application of the definition.Die allgemeine Definition des Rationalen - soil sie für praktische Entschlüsse verwendbar sein - muss zumindest folgende Charakteristika der “realen” Welt voll berücksichtigen: die Zeitdimension einer Handlung und der Konsequenzen der Handlung; die zahlreichen Nebenwirkungen einer Handlung; die unvermeidliche Ungewissheit des Handelnden mit Bezug auf die ihm offenstehenden alternativen Handlungen und auf die Folgen jeder dieser Handlungen; die Kosten zusätzlicher Information; die Kosten des logischen Vorgehens; die Mannigfaltigkeit der Wertkriterien der verschiedenen Handelnden; die Rnderungen in den Wertkriterien eines Handelnden im Zeitverlauf; die Einstellung des Handelnden hinsichtlich Zeitpräferenz, Risikobereitschaft, logische Verfahren und Ungewissheit. Die Definition des Rationalen sollte jenen Ablauf des Handelns aufzeigen, der im Lichte aller dieser Faktoren der “beste” ist.Die hier vorgeschlagene Definition skizziert ein “rationales Verfahren für die Wahl einer Handlung unter all den bekannten möglichen Handlungen, wobei das Wort “Handlung” sich auf eine besondere Zeitfolge von Handeln (im üblichen Sinn), Information und logischer Analyse bezieht. Das Verfahren besteht, grob gesprochen, in folgenden vier Schritten: I. Spezifikation der bekannten möglichen Handlungen; 2. Bestimmung aller möglichen Folgen und der Wahrscheinlichkeit dieser Folgen für jede der Handlungen, unter Verwendung aller verfügbaren relevanten Informationen; 3. Wertbestimmung jeder möglichen Folge von jeder der möglichen Handlungen auf Grund der relevanten Wertkriterien; und 4. Ableitung der “richtigen” vorzunehmenden Handlung aus 3. Bei der Ausführung dieser Schritte wird eine logische Konstruktion verwendet nach dem Muster von Carnap, Hempel und Oppenheim.Im Interesse einer grössern Verständlichkeit wird die Definition in zwei Stufen entwickelt. Der Anhang enthält eine (stark vereinfachte) Illustration über die Anwendung der Definition.Une définition générale de la rationalité - pour qu'elle soit utilisable pour des decisions pratiques - doit pour le moins tenir pleinement compte de chacune des caractéristiques suivantes du monde “réel”: la durée de ľ action et des conséquences de ľ action; la multitude des effets connexes ď une action; ľ inévitable incertitude de celui qui agit en ce qui concerne les alternatives qui s'offrent à lui et les conséquences de chacune de ces actions; le coǔt des informations complémentaires; le coǔt de ľ exécution logique des opérations; la diversite des criteres-valeur, suivant l'opinion de ceux qui agissent; les modifications dans le temps des critères-valeur ď un exécutant donné; la préférence que marque celui qui agit quant au temps, au risque, à la procédure logique et àľ incertitude. La définition de la rationalité devrait spécifier le déroulement de ľ action, qui, à la lumière de tous ces facteurs, apparaǐt comme “la meilleure”.La définition proposée ici esquisse une procédure rationnelle pour le choix ď une action parmi toutes les actions reconnues possibles; en ľ occurrence, le mot action se rapporte à une suite chronologique a) ď actions (au sens usuel), b) ď informations et c) ď analyses logiques. Grosso modo, le processus comprend les quatre étapes suivantes: I° la spécification des actions connues possibles; 2° la détermination pour chacune des actions, et en utilisant toutes les informations disponibles entrant en ligne de compte, de toutes les conséquences possibles et de leurs probabilityés respectives; 3oévaluation, à la lumière des critères-valeur entrant en ligne de compte, de chacune des conséquences possibles de chacune des actions possibles; et 4o la déduction de 3o de ľ action “correcte”à exécuter. En exposant ces étapes, ľ auteur utilise une construction logique calquée sur celles de Carnap, Hempel et Oppenheim.Afin ď etre mieux compréhensible, la définition est présentée en deux paliers. Ľ annexe à cet article contient un exemple (considérablement simplifyé) de ľ application de la définition.

Notes: Economic Policy for a Free Society. By HENRY C.SIMONS. The University of Chicago Press, Chicago, 1948. X, 353 S. $3.75.The Trade of Nations. By MICHAEL A.HEILPERIN. Alfred A.Knopf, New York 1947. 234 S.Die Technik des Auβenhandels. Von LUDWIG TRIEGLER. Manzsche Verlags-und Universitätsbuchhandlung, Wien 1948. 362 S.

Notes: Die Schweizerischen Effektenbörsen. Von A. HUNOLD unter Mitarbeit von H. BIERI. Der vierte Fünfjahresplan der Sowjetunion 1946-1950. Von S. N. PROKOPOVICZ.

Notes: In this exploratory paper, the notion of (strong) discontinuity is introduced into the theory of international labour migration. It is suggested that inter-country wage differentials alone may fail to induce international migration at the level of the decision making entity. However, three factors - risk aversion, relative deprivation and asymmetric information - in conjunction with these wage differentials, may account for international migration.

Notes: This paper suggests a way of incorporating the important concepts of optimism and pessimism into the accepted model of decision-making under uncertainty. We exploit the primitive notion that an optimist is someone who over-estimates (underestimates) the likelihood of favourable (unfavourable) outcomes. We show that this incorporation enables us to explain several commonly observed apparent violations of Subjective Expected Utility Theory. Several illustrations and economic applications are presented, and we show that attitude to ‘fate’ (as evidenced in optimism and pessimism) is a different dimension of personality than attitude to risk. We conclude by relating our extension of SEU theory to other recent extensions.

Notes: According to Malthusian growth theory the wage rate may be maintained constant on the path to the stationary state, at a level above ‘subsistence’ by appropriate reductions in the population growth rate. In this paper we document J. S. MILL'S version of the Malthusian model and various applications thereof.

Notes: Aufgrund verschiedener Anzeichen ist zu schliessen, dass bei der ökonomischen Forschung an den deutschsprachigen staatlichen Universitäten ein deutlicher Rückstand besteht gegenüber der internationalen, weitgehend durch amerikanische Wissenschafter geprägten Spitze. Eine Analyse der für die Hochschulprofessoren massgebenden institutionellen Rahmenbedingungen zeigt, dass dies auf eine ungünstige Anreizstruktur zurückzuführen ist. Diese Regelungen wirken sich nämlich im Endeffekt dahingehend aus, dass andere Tätigkeiten (sogenannte ≪Dienstleistungen≫) im Regelfall wesentlich mehr zum Nutzen eines Professors beitragen als die Forschungsarbeit. Dies trifft auch dann zu, wenn bei den nutzenstiftenden Faktoren nicht nur das Einkommen, sondern auch Anerkennung und Befriedigung an der Tätigkeit berücksichtigt werden. Wenn der Staat an seinen Universitäten mehr und bessere Forschung wollte, müsste er demzufolge dafür sorgen, dass wissenschaftliche Arbeit relativ zu anderen Tätigkeiten wieder attraktiver würde. Zur Erreichung dieses Ziels sind grundsätzlich verschiedene Massnahmen denkbar. Bei einer vergleichenden Beurteilung schält sich jedoch als einziger vom Staat tatsächlich steuerbarer und gleichzeitig auch wirkungsvoller Aktionsparameter die Besoldungsregelung heraus: die institutionellen Rahmenbedingungen müssten demnach so umgestaltet werden, dass sich zusätzliche Forschungsarbeit in irgend einer Form auch in zusätzlichem Einkommen niederschlägt.

Notes: It has become customary to dichotomize research results in functional income distribution in terms of neo-classical vs. neo-Keynesian theories with appropriate footnotes referring to fringe theories and distinguished predecessors. In this note the latter set is enlarged! Erik Lindahl's masterly contribution to this subject is presented in a generalized version of a Kaldor-Pasinetti model. In Penning Politikens Medel (1930) Lindahl poses the question of how savings will be adjusted to equilibrium with a higher level of investment which, in turn, has been caused by a lowering of the rate of interest. The equilibrium level is attained, in a characteristically Kaldor-Pasinetti way, by a redistribution of incomes.

Notes: The purpose of this paper is to discuss the process of social change as understood by Karl Marx and modern property rights theorists. Differences between Karl Marxand modern property rights theorists are quite substantial. Yet, Karl Marxand modern property rights theorists have one thing in common: the perception about the importance of property rights structures on the character of economic life. Same as modern property rights theorists, Marxrecognized that the solution of the social problems is not merely the task of reason but that the process of social change is caused by forces and movements that work from within the existing social system. Marx viewed economics as the study of property rights over scarce resources. As man learned to apply human work to the production and use of tools, it became essential to specify the relations among men with respect to the right to use those intermediate goods. And that meant the development and specification of property rights. Thus, Marxdeduced the historical necessity of property rights from the initial subordination of man to nature and his survival instincts. The most important difference between Marxand property rights scholars lies in the method of analysis. Modern property rights scholars are methodological individualists. They view the capitalist community as a voluntary association of utility seeking individuals. Instead of exogenously-imposed ‘common good’, emphasis in the capitalist community is on the right of ownership and contractual freedom which allow each individual the freedom of choice and the obligation to bear the costs of pursuing his own preferences, Marx viewed the process of social change as occurring in a series of historically predetermined discontinuous sequences. Thus, he viewed the development of property rights as both endogenous to the prevailing stage of economic development and pre-ordained by the laws of history.

Notes: The paper analyses the growth and profitability of the world's largest firms by reference to their size, degree of multinationality, main industry of operation, nationality of ownership and research intensity. The influence of size of firm on growth is stable but weak, its influence on profitability is negligible. Industry of operation has generally strongly influenced growth but the effect on profitability is not consistent amongst different time periods and samples. Division by research intensities of firms is significant in analysing growth, less in the analysis of profitability. Degree of multinationality does not contribute consistently to the explanatory power of the full equation for either dependent variable but nationality of ownership is a consistently powerful explanatory factor.

Notes: Does externality theory provide a basis for the government's monopoly in the production of base money? Money, as has been shown, is not a public good because it does not satisfy the non-rivalness criterion (nor the non-excludability criterion). Like any public decision, political agreement on a common money or unit of account (i. e., exchange rate fixity) passes the non-rivalness test. However, whether the imposition of a common money or monetary unit is a public good or a public bad depends on whether money is a natural-monopoly good or not. Hence, there is no independent public-good justification for the government's money monopoly. The public good argument is redundant. Whether money is a natural monopoly good cannot be determined a priori, but only on the basis of experience. If governments are natural money monopolists, they should have gained their monopoly position by prevailing in the market. Historically, this is not the case. The only valid test of the natural monopoly argument is to abolish all barriers to entry and to admit free currency competition from private issuers on equal terms. An international cross-section estimate of money demand functions reveals only weak evidence of social economies of scale in the use of money. By contrast, choice among currencies is shown to be strongly affected by restrictions of convertibility.

Notes: Dieser Beitrag befasst sich mit der Bereitstellung von Gütern und Dienstleistungen durch ≪Freiwilligengruppen≫, die als ≪Klubs≫ im Sinne der Public Choice-Theorie aufgefasst werden. Es wird eine theoretische Erklärung vorgeschlagen, warum Individuen eine Freiwilligengruppe gründen und sich nicht für eine institutionelie Alternative, zum Beispiel ein gewinnorientiertes Unternehmen, entscheiden. Haupterklärungsgründe für diese Wahl sind der Nutzen, den Mitglieder von Freiwilligengruppen infolge ihrer Wahlentscheidung zusätzlich zu jenem aus dem Konsum des Klubguts ziehen, Transaktionskostengesichtspunkte, Vertrauensaspekte im Zusammenhang mit asymmetrischer Information und qualitative Unterschiede, die mit der institutionellen Form der Erbringung einer Leistung verbunden sind. Für manche Formen von Freiwilligengruppen werden altruistische Präferenzen in die Erkläng miteinbezogen.

Notes: This research empirically examines the extent to which progress toward meeting the new international economic order (NIEO) goal of reducing global and societal inequalities has been made in the period since 1972-74. Data on global income distribution from 1946-76 are presented and analyzed. Additionally, the developed West, East, the underdeveloped South, and OPEC nations are examined separately. Basic human needs distributions are also examined utilizing data from the third edition of the World Handbook of Political and Social Indicators. Distributional calculations in these analyses are based upon the well known GINI coefficient. The major finding which emerges is that the NIEO goal of reducing the amount of global and societal inequalities is not being met. In fact, on the whole, a global trend toward greater inequality seems evident. Increasing inequality also is particularly prominent in non-OPEC developing Third World nations. Reductions in aggregate inequality have been made, but this progress is limited by and large to developed Northern and OPEC nations.

Notes: Many governments allocate resources to the repression of the political freedom of their citizens. The dominant economic theory of this activity, associated most prominently with the work of HAYEK, is that political repression is a bi-product of the erosion of economic freedom. This theory predicts that civil liberty will be positively correlated with the degree of economic freedom. An alternative view, derived from models of industrial behavior, is that monopolistic governments will use political repression to protect their property rights, so that concentrated party systems will tend to engage in more repression than competitive systems. Using a cross-sectional sample of 184 states in 1979, an empirical test of the two hypotheses is presented and the evidence is shown to be more consistent with the second hypothesis. In addition, the correlation between civil liberty and a variety of economic variables is examined: the degree of civil liberty is found to positively related to the level of real per capita income and to the ratio of wage and salary payments to total income. The Gastil index of civil liberty provides the empirical foundation for the study.

Notes: Abele, Hanns; Nowotny, Ewald; Schleicher, Stefan und Winckler, Georg (Hrsg.): Handbuch der österreichischen WirtschaftspolitikBalassa, Bela and Associates: Development strategies in semi-industrial economiesBaumol, William J.; Panzar, John C. and Willig, Robert D.: Contestable Markets and The Theory of Industry Structure.Begg, David K. H.: The Rational Expectations Revolution in Macroeconomics.Ben-Porath, Yoram (ed.): Income Distribution and the Family.Bennett, James T. and Di Lorenzo, Thomas J.: Underground Government: The Off-Budget Public SectorBrandt, A.; Horisberger, B. and Von Wartburg, W. P.(eds.): Cost-Sharing in Health Care. van Duijn, J. J.: The Long Wave in Economic LifeFrisch, Helmut (ed.): Schumpeterian EconomicsFujimori, Y.: Modern Analysis of Value TheoryIngram, James C.: International EconomicssJones, Leroy P. (ed.): Public enterprise in less-developed countriesKindleberger, Charles and Di Tella, G. (eds.): Economics in the Long View.Kirzner, Israel M. (ed.): Method, Process and Austrian Economics: Essays in Honor of Ludwig von MisesKornai, János: Growth, Shortage and Efficiency.Kozma, Ferenc: Economic Integration and Economic StrategyKrueger, Anne O.: Exchange-Rate DeterminationKülp, Bernhard: FreizeitökonomieMüller-Godeffroy, H. et al.: Der neue Protektionismus.Nezeys, Bertrand: Les relations économiques extérieures de la France.Ordeshook, Peter C. and Shepsle, Kenneth A. (eds.): Political EquilibriumPatinkin, Don: Anticipations of the General Theory?Rugman, Alan M. (ed.): New Theories of the Multinational EnterpriseRydén, Bengt and Bergström, Villy (eds.): Sweden: Choices for Economic and Social Policy in the 1980sSeurot, François: Inflation et emploi duns les pays socialistesSheffrin, Steven M.: Rational ExpectationsStegmuller, W.; Balzer, W. and Spohn, W. (eds.): Philosophy of Economics.Stewart, Frances and Sengupta, Arjun: International Financial Cooperation.Sundrum, R. M.: Development Economics.Tullock, Gordon: Economics of Income RedistributionU. S. Gold Commission: Report to the Congress of the Commission on the Role of Gold in the Domestic and International Monetary System

Notes: An otherwise conventional Keynesian macro model is modified to include inventories of final goods by (1) drawing a distinction between production and final sales, and (2) allowing for a negative effect of the level of inventories on production. Two models are presented: one in which the labor market clears and one in which it does not. Both models are stable only if the negative effect of inventories on production is ‘large enough’. Both models also imply that real wages move procyclically - in direct contrast to the usual implication of Keynesian models. Detailed analysis of the market-clearing model shows that there should be negative correlation between the levels of inventories and output, and between changes in inventories and changes in output, over the business cycle. However, inventory change should be positively correlated with the level of output.

Notes: The paper argues that shortcomings with respect to regional allocation are often due to misconstructions of fiscal adjustment and therefore must not be looked upon as market failures. The main argument is based on Buchanan's principle of fiscal equity as a guide to fiscal adjustment, which usually is not applied in existing fiscal systems. It is argued, that the common interpretation of Buchanan's principle in terms of benefits is misleading. Thus an interpretation in terms of costs is presented the essence of which is to provide a ‘right to generate public costs’ which is equal for ‘equals’ in any of a state's regions. Finally it is shown that on certain conditions a system of fiscal decentralization will generate exactly those results to be desired with respect to efficient regional adjustment. It is concluded therefore, that there is no general trade off concerning regional efficiency and fiscal federalism respectively; rather the opposite seems to be the case.

Notes: Bizien, Yves: Population and Economic Development.Black, John and Hindley, Brian (Eds.): Current Issues in Commercial Policy and Diplomacy.Brams, S. J.; Scmotter, A. and SchwÖdiauer, G. (Eds.): Applied Game Theory.Bruder, Wolfgang: Sozialwissenschaften und Politikberatung — Zur Nutzung sozialwissenschafthcher Informationen in der Ministerialorganisation.Clarkson, Kenneth W. and Martin, Donald L. (Eds.): The Economics of Nonproprietary Organizations.Dixon, P. B.; Bowles, S. and Kendrick, D.: Notes and Problems in Microeconomic Theory.Dobias, Peter: Wirtschaftspolitik.El Mallakh, Ragaei and Dorothea H. (Eds.): New Policy Imperatives for Energy Producers.Frey, RenÉ L.: Wachstumspolitik.Gollnick, Heinz und Thiel, Norbert : Ökonometrie.Gordon, Wendell: Institutional Economics.Gram, Harvey and Walsh, Vivian : Classical and Neoclassical Theories of General Equilibrium.Hacche, Graham: The Theory of Economic Growth. An Introduction.Hesse, Helmut (Hrsg.): Arbeitsbuch Angewandte Mikroökonomik.Hirsch, Werner Z.: Law And Economics: An Introductory Analysis.Kanemoto, Yoshitsugu: Theories of Urban Externalities.Klein, Lawrence R. and Young, Richard M.: An Introduction to Econometric Forecasting and Forecasting Models.Lavigne, Marie : Stratégies des pays socialistes dans l'echange international.Lindbeck, Assar (Ed.): Inflation and Employment in Open Economies.Lippman, S. A. and McCall, J. J. (Eds.): Studies in the Economics of Search.Lowe, Julian and Lewis, David : The Economics of Environmental Management.Peacock, Alan: The Economic Analysis of Government.Rao, C. H. Hanumantha and Joshi, P. C. (Eds.): Reflections on Economic Development and Social Change.Rossier, Edouard:.Economie structurale.Siebert, Horst and Antal, Ariane Berthoin : The Political Economy of Environmental Protection.Smith, Vernon L. (Ed.): Research in Experimental Economics. A Research Annual. Vol. 1.Uhlir, Helmut: Überprüfung der Random-Walk-Hypothese auf dem österreichischen Aktienmarkt.United Nations Industrial Development Organization: Industrial Priorities in Developing Countries.

Notes: Apps, Patricia: A theory of inequality and taxation, CambridgeDE Boer, Paul, M. C.: Price Effects in Input-Output RelationsCairncross, Frances (ed.): Changing Perceptions of Economic Policy.Caldwell, Bruce: Beyond Positivism.Copeland, Morris A.: Essays in Socioeconomic EvolutionEckstein, Otto: Core Inflation, Englewood Cliffs, N. J.Eliasson, Gunnar; Holmlund, Bertil and Stafford, Frank P. (eds.)Folkerts-Landau, David Fokke Ihno: Intertemporal planning, exchange, and macro-economicsHallwirth, Volker: Die Beschäftigung in Abhängigkeit von Preisen und Löhnen.Hartley, Keith and Tisdell, Clem: Micro-Economic PolicyHerman, Edward S.: Corporate Control, Corporate PowerVON Hippel, Eike: Der Schutz des SchwächerenKiluck, Tony (ed.): Adjustment and Financing in the Developing World.Kindleberger, Charles P. and Laffargue, Jean-Pierre (eds.): Financial crises.Kramer, Helmut und Butschek, Felix (Hrsg.): Entindustrialisierung?Lucas, Robert E.: Studies in Business-Cycle TheoryMcGuire, Chester C.: International Housing Policies.Menges, G.; Schelbert, H. und Zweifel, P. (Hrsg.): Stochastische Unschärfe in den WirtschaftswissenschaftenMettelsiefen, Bernd: Technischer Wandel und Beschäftigung.Munting, Roger: The Economic Development of the USSROlson, Robert K.: U. S. Foreign Policy and the New International Economic OrderPearce, D. W. and Nash, C. A.: The Social Appraisal of Projects.Rothschild, Kurt W.: Einführung in die UngleichgewichtstheorieSingh, Paramanand: Financing of University EducationTisdell, C. A.: Microeconomics of MarketsYuill, Douglas; Allen, Kevin und Hull, Christopher (Hrsg.): Regionale Wirtschaftsfürderung in der EG

Notes: Allen T. Harrell: New Methods in Social Science Research.Bawa Vijay S., Brown Stephen J., and Klein Roger W.: Estimation Risk and Optimal Portfolio Choice.Bigksler James L. (Ed.): Handbook of Financial Economics.BlÜmle Gerold: Wirtschaftskreislauf, Beschäftigung und Inflation.Buomberger Peter : Theorie und Strategic der Geldpolitik in einer kleinen offenen Volkswirtschaft.Cipolla C. M. und Borchardt K. (Hrsg.): Sechzehntes und Siebzehnles Jahrhundert.CsikÓs-Nagy B.: Towards a New Price Revolution.Fine Ben and Harris Laurence: Rereading Marx.Hey John D.: Uncertainty in Microeconomics.Hunt E. K.: History of Economic Thought: A Critical Perspective.Lavigne Marie: Les relations économiquesMÜller JÜrgen und Vogelsang Ingo: Staatliche Regulierung.Mulvey Charles : The Economic Analysis of Trade Unions.Negishi Takashi : Microeconornic Foundations of Keynesian Macroeconomics.Paul Ellen Frankelm:Mo ral Revolution and Economic Science.Sargent Thomas J.: Macroeconomic Theory.SchÖnbÄck Wilfried : Subjektive Unsicherheit als Gegenstand staatlicher Intervention.Schrenk Martin, Ardalan Cyrus, and EL Tataway NawaL A.: Yugoslavia—Self-Management Socialism and the Challenge of Development.Siebert Horst: Ökonomische Theorie der Umwelt.Spatz Heinrich: Die Allgemeine Gleichgewichtstheorie.Whynes David K.: The Economics of Third World Military Expenditure.Wolfson Dirk J.: Public Finance and Development Strategy.

Notes: The paper identifies the disturbances in the balance of payments of the non-oil less developed countries responsible for the rapid growth in their external debt between 1972 and 1977. It also examines prospects for the future. It finds that the sharp growth in the current account deficits in the years 1974 and 1975 was due primarily to adverse movements in the terms of trade. But trade terms were reversed in 1976 and 1977 and the deficit was reduced. Still overall inflation, slow export growth, and large interest payments kept the deficit substantially above the 1972 and earlier levels. In part II the paper examines how the debt to GNP ratio of the LDC's could be affected by four factors: export growth, changes in real interest rates, terms of trade, and credit rationing. A model is developed which shows that certain combinations of the four factors could lead to rapid accumulation of debt relative to GNP.

Notes: This paper examines the Friedman-Phelps‘expectational (dis)equilibrium’ and the Clower-Leijonhufvud‘non-market-clearing’ paradigms as alternative disequilibrium theories, and draws their respective policy implications. Then, these paradigms are taken as complementary to each other, as containing necessary ingredients for a synthetic disequilibrium theory, whose policy implications can only tentatively be explored. A general disequilibrium theory is founded on the notion of ‘disequilibrium consciousness’ and on a detailed characterization of ‘conjectural’ price and/or quantity responses to non-market-clearing, whose quasi-equilibrium outcome is conditioned by both expectations and the intra-market spillover effect.

Notes: In this paper we evaluate the welfare effects of changes in a country's terms of trade and in its import tariff. Imports are treated as intermediate goods, and the welfare measures which we use are based on production theory and on duality theory with special attention devoted to the setting of international trade theory. Empirical estimates are reported for the United States, Canada, Australia, and Switzerland.

Notes: This study develops and empirically tests a ‘scenario’ describing the evolution of a typical American multinational manufacturing corporation's (AMMC's) foreign research and development (R & D) activity. It finds that international differences in R & D factor costs probably have very little effect on R & D location decisions. The critical variables appear instead to be less traditional things like the time elapsed since the AMMC first engaged in foreign production. That such variables were discovered and emphasized in the study is a result of the ‘satisficing’ approach adopted in its ‘scenario’. In vindicating that approach, the paper's findings also show the need for economic theorizing to take explicit account of the fact that information costs something to obtain and to use.

Notes: This article seeks to help resolve the serious theoretical controversy about the contribution of international trade to economic development by constructing a simultaneous-equations model that captures the most important quantitative aspects of the relationship between trade and development, and testing it by pooling data for 52 nations (representing all of the developing nations for which the required data are available) from 1961 to the present. The model is estimated by Full Information Maximum Likelihood, validated by dynamic simulation and utilized for policy and other counterfactual simulations. By the use of dummy variables and Chow tests, shifts of the structural relationships and slope coefficients over time are also tested for. The study finds strong empirical support for trade being very important for development, but to be more in the nature of a handmaiden than of an engine of growth.

Notes: Arrow Kenneth J. and Hurwigz Leonid (Eds.): Studies in Resource Allocation Processes.Dornbusch Rudiger and Frenkel Jacob A. (Eds.): International Economic Policy - Theory and Evidence.Dubbelman G.: Disturbances in the linear model, estimation and hypothesis testing.DÜrr Ernst (Hrsg.): Wachstumstheorie.Hutchison T. W.: On Revolutions and Progress in Economic Knowledge.Johnson Elizabeth S. and Johnson Harry G.: The Shadow of Keynes: Understanding Keynes, Cambridge and Keynesian Economics.Kreuzer Arthur: Jugend - Rauschdrogen - Kriminalität.Kuyvenhoven Arie : Planning with the semi-input-output method.Lampert Heinz (Hrsg.): Arbeitsmarktpolitik.Lipp Ernst-Moritz : Parallelwährung für Europa.Miller Ervin with Lonie Alasdair : Microeconomic Effects of Monetary Policy.Mitchell Bridger M., Manning Willard G., Jr., and Acton Jan Paul: Peak-Load Pricing.MÜller Johann Baptist : Liberalismus und Demokratie.Oates W. E. (Ed.): The Political Economy of Fiscal Federalism.Pearson Charles (Hauptverfasser) und Pryor Anthony : Environment: North and South.Ribhegge Hermann: Rationale Einkommenspolitik aus der Sicht der Neuen Politischen Ökonomie.Roncaglia Alessandro : Sraffa and the Theory of Prices.Rose-Ackerman Susan: Corruption.Sahlins Marshall : The Use and Abuse of Biology - An Anthropological Critique of Sociobiology.Spengler Joseph J.: Facing Zero Population Growth: Reactions and Interpretations, Past and Present.Streit Max : Ökonomische Modelle für Ausbildung und Arbeitsmarkt.Thomson J. Michael: Grundlagen der Verkehrspolitik.

Notes: Book reviewed in this ArticleBain, Andrew D.: The Economics of the Financial SystemBarnett, William A.: Consumer Demand and Labor SupplyBensoussan, Alain; Kleindorfer, Paul and Tapiero, Charles S. (Eds.): Applied Stochastic Control in Econometrics and Management ScienceBurmeister, Edwin: Capital Theory and DynamicsChandler, Alfred D., Jr. and Daems, Herman(Eds.): Managerial HierarchiesChipman, John S. and Kindleberger, Charles P. (Eds.): Flexible Exchange Rates and the Balance of PaymentsCline, William R. and Weintraub, Sidney (Eds.): Economic Stabilization in Developing CountriesGeipel, Ute: Makroökonomische KonjunkturanalyseHerder-Dorneigh, Philipp; Sieben, GÜnter und Thiemeyer, Theo (Hrsg.): Wege zur GesundheitsökonomieHWWA-Institut: Analyse der strukturellen Entwicklung der deutschen WirtschaftJames, Simon:A Dictionary of Economic QuotationsKampkÖtter, Horst: Einzelwirtschaftliche Ansätze der ProduktionstheorieKaufer, Erich: Theorie der Öffentlichen RegulierungKmenta, J. and Ramsey, J. B. (Eds.): Large-Scale Macro-Econometric ModelsLampert, Heinz: SozialpolitikMÁndi, PÉter: Education and Economic Growth in the Developing CountriesNygÅrd, Fredrik and Sandström, Arne: Measuring Income InequalityOdagiri, Hiroyuki: The Theory of Growth in a Corporate EconomyOhr, Renate: Internationale Interdependenz nationaler Geld- und Güter-märkte bei flexiblen WechselkursenOtruba, Heinrich: Wirtschaftliches Verhalten bei UngleichgewichtPasinetti, Luigi L.: Structural Change and Economic GrowthRosensghon, Astrid: Verschwendung in Staat und MarktRoskamp, Karl W. and Forte, Francesco (Eds.): Reforms of Tax Systems — Réformes des systèmes fiscauxSimon, JulianL.: The Ultimate ResourceTennstedt, Florian: Sozialgeschichte der Sozialpolitik in DeutschlandTobin, James: Vermögensakkumulation und wirtschaftliche AktivitätWeizsÄcker, C. C. v.: Barriers to Entry

Notes: KALDOR hat seine Verteilungstheorie deshalb als keynesianisch bezeichnet, weil sic die Einkommensverteilung aus Nachfragebedingungen erklärt und sich dadurch von den klassisch-marxistischen und neoklassischen Verteilungstheorien, die Theorien der Produktion und damit des Angebots sind, abgrenzt. Es mtissen jcdoch methodische Bedenken dagegen angemeldet werden, eine nachfrage-orientierte produktionsorientierten Theorien gegentiberzustellen. Verteilungstheorien sind an ein langfristiges Gleichgewicht gebunden, bei dem temporare Einkommen verschwunden sind; das impliziert jedoch, dass sich die Verwen-dungsstruktur den knappheitstheoretisch fundierten Produktionsbedingungen an-passt, die damit die Einkommensverteilung bestimmen. Eine keynesianische Verteilungstheorie kann daher nur dadurch einen genuinen Stellenwert erhalten, dass sie auf einer spezifischen Theorie der Produktion basiert. Die preistheoreti-schc Grundlage einer derartigen Produktionstheorie liefert dabei eine monetäre Zinsbestimmung und die Ableitung von Produktionspreisen, ein System, dessen formale Grundlage SRAFFA gelegt hat. Seine makroökonomische Version zeigt dabei, dass die Lohnquote durch den Zinssatz, die Arbeits- und Kapitalproduk-tivitat bestimmt wird. KALDORS Verteilungstheorie erweist sich dabei als eine kurzfristige Theorie, die Abweichungen der Profitrate vom Gleichgewichtszins-satz ausdrückt.〈section xml:id="abs1-2"〉〈title type="main"〉summaryKALDOR indicates his distribution theory as keynesian, explaining the distribution of income demand-related, and distinguishing so his theory from the classical, marxian and neoclassical versions, who are production- and supply-related. On methodical reasons it is, however, doubtful to confront demand-related and supply-related theories. Theories of distribution are founded on a long-period equilibrium, since temporary income effects are disappearing. In such an equilibrium the structure of demand depends on the scarcities, i.e. on the conditions of production determining in this way the distribution of income. Therefore a keynesian theory of distribution has to be founded on a specific theory of production. The price theory of such a keynesian production theory is based on a monetary determination of interest and the derivation of production prices, a system, constructed by SRAFFA. His macroeconomic version demonstrates that the share of wages is determined by the interest rate and the productivity of labour and capital. KALDORS theory of distribution is therefore a short-period theory expressing deviations of the rate of profit from the interest rate.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉKALDOR qualifie sa théorie de distribution comme keynésienne parce qu'elle explique la distribution du revenu par les conditions de demande. Elle se distingue ainsi nettement des theories de distribution classiques-marxistes et néoclassiques qui sont des théories de production et d’ offre. Pour des raisons méthodiques il est pourtant délicat de confronter une théorie orientée vers la demande avec une autre orientée vers la production. Les théories de distributions sont liées à un équilibre de long terme où les revenus temporaires ont disparu. Dans un tel équilibre la structure de la demande d́epend des conditions de rareté, c'est-à-dire des conditions de production qui déterminent ainsi la distribution du revenu. Par conséquent une theorie de distribution keynésienne doit se fonder sur une théorie de production spécifique. La théorie des prix d'; une telle théorie de production keynésienne est basée sur une détermination monétaire des intérěsts et sur la dérivation des prix de production - un système formellement construit par SRAFFA. Sa version macro-économique demontre que la quote-part des salaires est déterminée par le taux d';interet et par la productivityé de travail et de capital. C'est pourquoi la théorie de distribution de KALDOR est une théorie à court terme, exprimant des déviations du taux de profit du taux d'; interet.

Notes: Economics tries to explain unique chains of historical events. Economic doctrines, however, are mostly pieces of logics with few references to testable propositions. However, to criticize this lack of ‘testable hypotheses’ is a misapplication of Popper's ideas. History being unique, empirical propositions in economics have to be tailored to individual cases. Economic doctrines, like a chess handbook, are a collection of prefabricated elements promising to be helpful in this task. Economic science is a process of continuous discovery and thus, like all scientific discovery, to large extent an art.

Notes: The criticism that the Mundellian policy-mix approach results merely in the financing of external imbalances without effecting their adjustment is reexamined within the context of an aggregative stock adjustment model and found to be suspect. The analysis emphasizes the strategic importance of the desired stock of financial wealth and its susceptibility to monetary and credit policies. In an open economy the aggregate stock of financial wealth can be altered only through the balance of non-financial transactions with the rest of the world. To the extent that, e.g., credit tightening precipitates an increase in the desired stock of financial wealth, domestic transactors will on balance seek to increase their receipts from/sales to overseas relative to their payments to/purchases from overseas. Thus the consistent pursuit of monetary policy for external balance will induce real adjustments that do contribute to the adjustment of the current account imbalance.

Notes: This paper summarizes the conclusions of a number of studies prepared in recent years by the German Development Institute (Berlin) on the structural implications of the Southern enlargement of the European Community for the acceeding countries as well as for the whole EEC. Reference is made to the problems arising generally from the internal and external impact of the changes in the structural equilibrium of the Community, defined in terms of increasing structural disparities within the EEC and growing inflexibility vis-à-vis the rest of the world. The implications for the Common Agricultural Policy and the industry are then discussed with special reference to the problem of the ‘sensitive’ industries. Arguments are presented in favour of the thesis that a new structural equilibrium can only be achieved through the improvement of production structures in the weaker regions of the Community and so through the gradual elimination of the intra-Community development gap.

Notes: Assuming a radicalized Weberian position, religious beliefs and their structuring dogmas are construed as independent variables. Within that frame Calvinism (Puritanism) is ‘ideal-typically’ compared with Catholicism, sketchily also with Lutheranism and Marxism. The dependent variables arc productivity, propensity to save and invest, a profit-making and calculating orientation, the perceived legitimacy of manipulating consumer choices. Though there are references to other national cultures the principal target is the American economy; its meteoric rise to wealth and economic predominance. Applying Weber's hypothesis as to the invariable bureaucratization of charismatic systems to the decreasing rate of economic progress of the American and other calvinistically influenced economies some macro- and micro problems are singled out for further analysis.

Notes: The starting point is the model of individual behaviour used by modern economic theory. The individualistically oriented branch of modern sociological theory is based on the same behavioural model, but stresses different aspects than economic theory does. While economic theory holds preferences constant and investigates how changes in the restrictions placed on individuals produce changes in their behaviour, sociological theory investigates how different social conditions give rise to different preferences (‘attitudes’) which then result in different ways of behaving. The theory of voting behaviour is given as an example to show how economic and sociological theory can gain from supplement each other. While sociological theory explains mainly long-term developments in voting behaviour as reactions to long-term changes in the society's basic social structure, economic theory mainly explains short-term variations in voting behaviour resulting from changes in economic and political factors. We conclude by discussing some misunderstandings held by sociologists concerning the economic approach. It is shown that once these misunderstandings are cleared up, economics not only can learn from sociology, but sociology can learn from economics as well.

Notes: This paper is a survey of the most important contributions to the development of a theory of ‘long waves’ in capitalist development. From the early forerunners of the discussion, via Kondratieff and Schumpeter, to the economists of today, the debate on the long-wave phenomenon is being surveyed and assessed. The result is rather negative. No one has been able to empirically verify the existence of the long waves. Secular wave-like fluctuations in prices and certain related time series have been found - but these are quite compatible with explanations based exclusively on exogenous factors. In physical time series of production or other time series that are not directly correlated with prices, there has been no evidence of long waves. Nor has anyone been able to give a satisfying explanation of why the secular rate of growth or level of economic activity would fluctuate in a self-generating cyclical pattern. Therefore, we must draw the conclusion that those turning-points and successive trend periods which undeniably exist in the development of capitalism cannot be regarded as manifestations of some kind of long wave or cycle; instead, they are specific, historical occurrences, each one characterized by its own specific features. The task of the social scientist is, thus, to study the actual historical dynamics of the economic system - without trying to squeeze it into a general pattern of secular cyclical swings.

Notes: This study represents an econometric investigation into the role played by exports in the process of economic development of the major oil producers in North Africa and the Middle-East over the past two decades. Single as well as simultaneous equation models were tested using aggregate and disaggregate data. Aggregate real analysis suggests that there is little evidence of spread effects of oil exports to the rest of the economy. Sectoral analysis indicates that the expansion in oil exports was not fully exploited in stimulating the manufacturing sector. Aggregate and disaggregate investment analysis clearly suggests that gross fixed capital formation, limited as may be, is extremely sensitive to growth in oil exports in all countries considered with the exception of Kuwait and Libya. The statistical results of the simultaneous relationships suggest the absence of feedback effects.

Notes: Convexity constraints create problems in the theory of public goods that need not arise in the theory of private goods. This paper discusses these problems, which have not been fully recognized in the standard literature. The dimensionality of public goods becomes critical. A distinction must be made between consumption units, that enter as arguments in utility functions, and production units, which enter production functions, and which are directly purchased by the demanders. Standard convexity properties defined on consumption units need not imply convexity properties on production units, given standard properties of utility and production functions. The ambiguities are clarified by reference to the orthodox literature in public goods theory.

Notes: This paper analyzes allocations of agricultural extension services in India in terms of a model of villages as political interest groups. The empirical evidence is viewed in the light of two competing models of the distribution and quantity of public goods: the ‘efficiency’ model of Hayami and Ruttan (1971), and the ‘interest group model’ of the newly developed literature on economic regulation. It is argued that in villages that are relatively remote from competitive markets, large landholders may be able to induce landless farmers to support the provision of extension services, because of the dependence of the landless farmers on the landowners for jobs and credit. In the absence of this ‘dependency structure’, the freerider problem would tend to prevent the village from acting collectively. This hypothesis is supported with evidence that villages with relatively large proportions of landless farmers are more likely to receive extension services, ceteris paribus; this relationship holds only in villages that are relatively far from links to competitive markets. It is also found that more highly educated farmers receive more extension services, despite evidence from previous studies that education and extension are substitutes in agricultural production. These results and other evidence support the interest group model over the efficiency model, which holds that efficiency considerations are the main determinants of government behavior.

Notes: Books reviewed in this article:ABS HERMANN J.: Fragen der Zahlungsbilanz, des Geld- und Kapitalmarktes in der Bundesrepublik. (Kieler Vorträge, Neue Folge 5.) 16 Seiten, Kiel 1954Aktuelle Genossenschaftsprobleme. Internationale Professoren-Konferenz über das Genossenschaftswesen, 7. bis 11. Oktober 1952, im Genossenschaftlichen Seminar Freidorf bei Basel. A. Francke AG, Bern 1953BARCLAY GEORGE W.: Colonial Development and Population in Taiwan. Princeton University Press, Princeton, N. J., 1954BARCLAY GEORGE W.: A Report on Taiwan's Population to the Joint Commission on Rural Reconstruction. Office of Population Research, Princeton University, Princeton N. J., 1954BOVET ERIC: L'organisation rationnelle de la distribution, moyen de stabilisation économique. Editions Delachaux & Niestlé, Neuchtel/Paris 1954Bureau International du Travail. Initiation à la pratique de la coopération. Genève 1952BURLEW JOHN S. (ED.): Algal Culture. From Laboratory to Pilot Plant. Carnegie Institution of Washington, Washington D. C. 1953CARONE G.: Der Fremdenverkehr undsein Anteil am Wirtschaftsleben der Region Trentino-Tiroler Etschland. Hg. vom Assessorat für Industrie, Handel, Fremdenverkehr und Transportwesen, Trento (Italien). Arti Grafiche R. Manfrini, Rovereto 1954CARELL ERICH: Allgemeine Volkswirtschaftslehre. 6. Aufl. Quelle & Meyer, Heidelberg 1954CASTILLON RICHARD: Les réparations allemandes. Deux expériences, 1919–1932, 1945–1952. 198 pages, Paris 1953CUVILLIER ARMAND: Introduction à la sociologie. 5e éd. revue et augmentée. Librairie Armand Colin, Paris 1954Defense against Recession: Policy for greater Economic Stability. A Statement on National Policy by the Research and Policy Committee of the Committee for Economic Development. New York 1954DUPLESSIS-LE GUELINEL GÉRARD: Les mariages en France. (Cahiers de la fondation nationale des sciences politiques, n 53), xi, 198 p., Paris 1954The Federal Reserve System, Purposes and Functions. Ed. by the Board of Governors of the Federal Reserve System. Washington, D. C., 1954Freedom and Welfare. Social Patterns in the Northern Countries of Europe. Edited by George R. Nelson, assisted by Aune Mäkinen-Ollinen, Sverrir Thorbjörnsson, Kaare Salvesen, and Göran Tegner. xiii, 540 pp., Kopenhagen 1954GLESKE LEONHARD: Die Liquidität in der Kreditwirtschaft. Verlag Fritz Knapp, Frankfurt a. M., (ohne Jahr)HAAVELMO T.: A Study in the Theory of Economic Evolution. Contributions to Economic Analysis III. North-Holland Publishing Company, Amsterdam 1954HEGELAND HUGO: The Multiplier Theory. Lund Social Science Studies No. 9. C. W. K. Gleerup, Lund 1954HEIMANN EDUARD: Wirtschaftssysteme und Gesellschaftssysteme. Veröffentlichungen der Akademie fur Gemeinwirtschaft Hamburg. J. C. B. Mohr (Paul Siebeck), Tubingen 1954HEINRICH KLAUS: Strukturwandlungen und Nachkriegsprobleme der Wirtschaft Spaniens. Kieler Studien 28, Forschungsberichte des Instituts für Weltwirtschaft an der Universität Kiel. Hg. von Fritz Baade. Kiel 1954HELD GEORG: Noch einmal: Theorie der Merkantil- und der Kameralrechnung. 92 S. Wiesbaden 1953HENDERSON W. O.: Britain and Industrial Europe 1750–1870. Studies in British Influence on the Industrial Revolution in Western Europe. University Press of Liverpool, Liverpool 1954Income Redistribution and Social Policy. A Set of Studies, ed. by Alan T. Peacock. Jonathan Cape, London 1954KINDLEBERGER CHARLES P.: International Economics. Homewood 1953LAUFENBURGER HENRY: Economie du système fiscal français national et local. Traité d'économie et de législation financière, 5e éd. entièrement refondue. Recueil Sirey, Paris 1954LEHMANN M. R.: Lenkende Wirtschaftspolitik. Necessitas-Verlag, Wiesbaden 1954LEIBENSTEIN HARVEY: A Theory of Economic-Demographic Development. Princeton University Press, Princeton, N. J., 1954MARCUS EDWARD: Canada and the International Business Cycle. Bookman Associates, New York 1954MERCILLON HENRI: Cinéma et monopoles. Le cinéma aux Etats-Unis: étude économique (Centre d'Etudes économiques, Etudes et Mémoires n 13). xii + 203 pages, Paris 1953MITRA ASHOK: The Share of Wages in National Income. Thesis, Netherlands School of Economics, Rotterdam 1954NEISSER HANS and MODIGLIANI FRANCO: National Incomes and International Trade. A quantitative analysis, xviii, 396 pp., Urbana (Ill.) 1953PHELPS CLYDE WILLIAM: Instalment Sales Financing: Its Services to the Dealer. (Studies in Consumer Credit, No. 2), 99 pp., Baltimore 1953PHILIP KJELD: Inter government Fiscal Relations, Federal State and Local Finances. Institute of Economics and History. Ejnar Munksgaard, Copenhagen 1954POSTEL CLAUDE: L'aéroport de Paris. (Cahiers de la fondation nationale des sciences politiques, n 49). 190 p. Paris 1953SCHICKELE RAINER: Agricultural Policy. Farm Programs and National Welfare. McGraw-Hill, New York/Toronto/London 1954SCHOBESBERGER OTTO: Sozialversicherung und soziale Sicherung. Eine grundsätz-liche Stellungnahme vom Naturrecht her. vi, 161 S. Braunau 1953SCHUMPETER JOSEPH A.: Aufsátze zur Soziologie. Hg. von Erich Schneider und Arthur Spiethoff. J. C. B. Mohr (Paul Siebeck), Tübingen 1953Das schweizerische Bankivesen im Jahre 1952 (Mitteilungen der volkswirtschaftlichen und statistischen Abteilung der Schweizerischen Nationalbank, 36. Heft). 273 Seiten, Zurich 1953SHIMKIN DEMITRI B.: Minerals - A Key to Soviet Power. Harvard University Press, Cambridge, Mass., 1953SNIDER DELBERT A.: Introduction to International Economics. Richard D. Irwin, Homewood (Ill.), 1954TAUTSCHER ANTON: Die öffentliche Wirtschaft. Duncker & Humblot, Berlin und München 1953Thèses de sciences sociales: Catalogue analytique international de thèses inédites de doctorat, 1940–1950. 236 p. Paris 1954The Teaching of the Social Sciences in the United Kingdom. 140 pp. Paris 1953THOMAS BRINLEY: Migration and Economic Growth. A Study of Great Britain and the Atlantic Economy. National Institute of Economic and Social Research, Economic and Social Studies, Vol. XII. Cambridge University Press, London 1954United Nations: The Determinants and Consequences of Population Trends. A Summary of the Findings on the Interrelationships between Population Trends and Economic and Social Conditions. United Nations Population Studies No. 17. 404Uppsala Symposium on Psychological Factor Analysis 17–19th March 1953. Nordisk Psykologi's Monograph Series No. 3. Distributed by Ejnar Munksgaards, Copenhagen and Almqvist & Wiksell, Stockholm, 1953WALRAS LÉON: Elements of Pure Economics or the Theory of Social Wealth. Translated by William Jaffé. 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Notes: Brot für ganz Europa. A Dollar Index of Soviet Machiney Output 1927/28 to 1937. Die Industrialisierung der Agrarstaaten und ihre Rückwirkungen auf die europäische Textilindustrie. Shares of Upper Income Groups in Income and Savings. La politique sociale de l'Angleterre contemporaine. La pensée économigue en France depuis 1945. Readings in Price Theory. The Process of Economic Growth. The Theory of the Market Economy. A Survey of Contemporary Economics.