Merck's Warenlexikon für Handel, Industrie und Gewerbe

Study week on the econometric approach to development planning

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Monograph

Identifikator:: 895603128

URN:: urn:nbn:de:zbw-retromon-10120

Document type:: Monograph

Author:: Merck, Klemens http://d-nb.info/gnd/1064962637

Title:: Merck's Warenlexikon für Handel, Industrie und Gewerbe

Edition:: Sechste, völlig neu bearbeitete Auflage

Place of publication:: Leipzig

Publisher:: G.A. Gloeckner, Verlag für Handelswissenschaft

Year of publication:: 1919

Scope:: 1 Online-Ressource (IV, 555 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: M

Collection:: Economics Books

652 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - The whole picture becomes radically different in the pre- sent model, where the fulfilment of the equilibrium condi- tions at time zero is no longer the end but just the beginning of the whole story. These conditions cannot remain the same as time goes on; because technical progress — whether uniform over the whole economy or not — causes each single component of the summations in (V.r1) to change. This means that the way in which each one of conditions (V.8) and (V.11) are ful- filled must be continually different as time goes on. The size of the various sectors that may satisfy those conditions in a given period of time is necessarily different from the size of the same sectors which ensured their fulfilment in the previous period, and again is necessarily different from the size of the same sec- ‘ors which can ensure their fulfilment in the following period. But the discussion of the previous chapter now allows us to go far beyond these general remarks. By hypothesis, almost all technical coefficients are decreasing in time. This means that, unless the demand coefficients increase in the same pro- portion, condition (V.r1) is bound to become under-satisfied as time goes on. But we know already that no demand coef- ficient can increase indefinitely, because eventually all demand coefficients reach saturation level. Therefore we must conclude that condition (V.11), as it stands, inevitably manifests a ten- dency to become under-satisfied, i.e. to generate unemploy- ment, as time goes on. Fortunately there are two factors, operating in the long run, which come to counterbalance the above mentioned ten- dency. These two factors must now be introduced into the model. One of them is the same one which causes the whole trouble: technical progress. So far in this chapter technical progress has been considered in the form of increases of pro- ductivity. But it has been pointed out earlier that technical progress also takes the form of introducing new goods. Our model must therefore be completed now by opening it to the possibility of the introduction of new sectors. This can be [10] Pasinetti - pag. 82

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