Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XVIII. The stock exchange as an international market

Collection:: Economics Books

1160 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 and supply for food. In the Soviet Union, for most food pro- ducts there is excess demand at the fixed prices in the state store. Generally the prices in the free market are substantially higher than those in the state stores, for several important pro- ducts 50 to 100% more. The increase in the retail price of meat by 30% and of butter by 259% on June 1, 1962 without eliminating all of the excess demand (reports of queues and bare shelves persist) indicates that some of the food markets are substantially out of equilibrium. While it is true that state food store prices are generally substantially below prices in the free market, the state food store prices are not low by comparison with Western Europe and the United States nor are they low compared to the income of the population. Approximately 50% of consumer income is expended for food, of which about 90% is purchased in state stores at controlled prices. In Western Europe and the United States the « agricultural problem », as viewed by most governments, is to maintain a satisfactory level of farm incomes. Generally speaking, the growth of demand is less than the potential increase in pro- duction. Rapid adoption of new methods of production by farmers means that the demand for farm labor at current re- turns to labor is declining absolutely. When one adds to this the fact that alternative earnings in the rest of the economy are increasing, substantial reductions in labor inputs are re- quired in most of the countries. While some of the countries have had programs designed to facilitate the transfer of labor out of agriculture, most have tried to solve the problem of declining demand for farm labor by various forms of subsidies and price maintenance or increasing measures. The agricultural programs of the higher income countries have certain direct implications to the agricultural development plans or policies of the low income countries. Most of the low income countries depend upon a limited number of agricultural products for the bulk of their export earnings. If the major industrial countries follow policies that result in expanding 16] Johnson - pag. 20

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