9058009885

CtffAPTOR TM

38

86230

t.hat. playera fali t.o nnderst.and t.hat. t.hey are playlng a gamę, and In part.loular a negati ve sum gamę; t.hat. la, t.hey are not oonsoious of t.he Int.erdependenoy among t.heir at.rat.eglea, and t.herefore t.hey do not underat.and t.hat. t.he ineffeot.iveness of t.hei r at.rat.eglea is d u e to a u oh int.erdependenoy and not t. o t.he feat.urea of a perverae ¹ State of nat.ure’.

The only t.hlng t.hey peroei ve, whlle nnoonsolonsly playlng t.he gamę, la t.hat. If t.hey suooeed In heing morę oompet.it.ive -and as long as t.hey keep suooeedlng- t.hey are het.t.er off t.han t.hey would he 1f t.hey stopped to pract.loe t.he searoh for oompet.1t. 1venesa. And t.hls peroept.lon 1s t.he flrst. of t.he faot.ors t.hat make t.he gamę oont. inne, as 1t. is diffioult. t.o shlft. t.o a dlfferent. gamę.

The seoond possible blas is given by t.he faot. t.hat. nonę of t.he playera 1s oonsolona of t.he altuatlon 1n whloh he w1 1 1 find himself, should a oomplet.ely dlfferent. gamę ex1st. And t.hls 1 s t.he seoond faot.or whloh, hldlng t.he very same opt.lon of ohanging t.he gamę, forestalia a .major o hangę of.t.he rui es.

7 • Sy?.t_:emj o;_nega 11 Ve f eed-baoks .

For any given t.lme-rat.e of 1norea.se In produot.i vi ty, eit.her t.he t.Ime-rat.e of Inorease In demand and out.put. is at. least. aa large, or t.he level of employment. 1s bound t.o fali. Th1s is exaot.ly what. happened 1n t.he F.F.C oountrles 1 n t.he last. deoade or so .

On t.hls 1ssue we have dlfferent. aohoola of thought. Aooording to t.hoae who t.ot.ally bel 1eve in t.he self- regulatory meohaniams of market, foroes, t.he real wagę rat.es are st. 111 exoeedingly high; should t.hey lower morę t.han t.hey aot.ually d1d, t.he a o 1.1 v 11. y rat.e of t. he syat.em would Inorease, u p t.o fuli employment. Hist.orloal exper1enoe seems to ni lit. a te agalnst. t.hem; unemp 1 oyment. bas kept. growlng in t.he last. deoade or ao, wh i 1 e real wagę rat.es have kept deoreasing or, at. leaat., r e m a 1 u e d st. able.

A sllght.ly dlfferent. view says t.hat. t.he overall demand oan be kept nnder t.he oont. roi of poił o y nakers; but. t.hey no u ld not., however, a 1 1 ow t.he demand t.o Inorease at. t.he same rat.e of produot 1 v 1 t.y, henause 1f t.hey did, t.he system would have faoed unsust.alnahle pressures from t.he point, of v1ew of bot.h 1 n f 1 a 1.1 o n and ext.ernal Imbalanoes.

Aooording t.o us , t.he t.wo oonst.ralnt.s ment.loned above oannot. be nonsldered aa belng a i m11 a r . The external balanoe oonst.ralnt. depends on t.he International oompe1.11.1 veness gamę; morę exaot.ly 1t. Is a part of 1t (t.hat Is why we t.alked of ' st. rat.eglea* sińce s e o 1.1 o n 2 a h o v e ) .    7 f t. h 1 a 1a tnie, 1t. oan

be releaaed or soft.ened only t.hrough morę International ooordlnat.lon and oooperat.lon; a form of ooordlnat. ion and ooopera t.1 on t.hat. oould Inter rupt., or at. least. reguł a te, t.he International nega 1.1 ve-snm gamę.