Die Staatsausgaben von Großbritannien, Frankreich, Belgien und Italien in der Vor- und Nachkriegszeit

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Monograph

Identifikator:: 1742735827

URN:: urn:nbn:de:zbw-retromon-120327

Document type:: Monograph

Title:: Die Staatsausgaben von Großbritannien, Frankreich, Belgien und Italien in der Vor- und Nachkriegszeit

Place of publication:: Berlin

Publisher:: Reimar Hobbing

Year of publication:: 1927

Scope:: 574 Seiten

Digitisation:: 2020

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Vierter Teil. Die Staatsausgaben in ihrer Gliederung nach Ausgabearten

Collection:: Economics Books

060 FONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - ~ is 0.2 instead of 1 as'is implicitly assumed in equation 2 of LEon- IIEF’s paper. In no case it is possible to conclude that there is some proportionality between R and C which would mean B equal to unity. Now, in the Leontief calculations the hypothesis that real national mcome tends to be proportional to real national capital plays a fun- damental role. If this hypothesis were abandoned, the results would be completely different. My argument is absolutely the same as yesterday. A given pro- perty can appear to be reasonable without being right. I repeat again. From an economic point of view, my model may be right or wrong, this is as may be, but it is mathematically coherent. And while it shows an approximate proportionality between income and capital, nevertheless there is at the same time a maximum for real national income whatever the value of real capital. The political impact of the LEONTIEF paper, were its results correct, would be of very great importance. The conclusion would be that the West should very substantially increase its aid in capital. My convinction is that this increase would have a much lesser effect than that predicted by the LEONTIEF paper because the more im- portant factor is not capital but, in my opinion, technological education. Certainly, if we accepted a production function such as the Dou- glas production function, which it seems very reasonable to accept, at least as a first approximation, the result would be that the paper would predict a much lesser effect. Thank vou. LEONTIEF I think I fully understand Prof. ALLAIS’ objection. To meet it let me restate my position in respect to the point raised bv him in the following way: The stock of capital employed in productive process represents a necessary but not a sufficient condition for attaining the level of 13] Leontief - pag.. 22

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