9058009913

CHAPTF.R T V

64

86230

7 •    on__tiH,«_Ufiw_JSlłlłJLJ-C._

So far we have oonoent.rat.ed on t.he relat.1onsh1p bet.ween t.he i mp 1 ement.a t. i on of expansive rac ro-pn 1 1 o 1 e« and t.he recjnf red meohanlsms to ensure t.hat. t.hey a p t. u a 1 1 y g 1 v e rlse to t.he d e s 1 r e d r e s u 11. s 1 n teras of t.he grnwt.h of produot.1ve o a p a o 1 t y and employment.. T h 1 s , as we h a v e • seen,    1 m p 1 1 e s new and

different. llnks bet.ween mirro and aa ero    aeasures, t.he

1 n t. r o d n o 1.1 o n of morę eff Ident foras of    o o n t. r o 1 and

guarant.ee, eto. Ali t.hls,    t.hough t.o a varylng    ext.ent.,

represent.s a novel ty In t.he t.radlt. 1onal panorama of pnh 1 1 o poi 1 c1 es . Rut. a new and fresh att.1t.iide should he t.aken also t.oward a morę generał not.lon^ of. st.at.e. aot.1v1t.1es    and

expend 1 t.nres . Suoh a new at.t.lt.nde t.oo i a relat.ed t.o t.he central Import, anoe of t.he llnks bet.ween «1crn and aaoro aspeot.s and 1apl1eat.1ons.

Tn eoonoalos we oan 1dent.1fy t.hree t.heoret.loal att.1t.ndes t.oward st.at.e aot.1v1t.1es and expand 1 t.nres. They, t.hough riiss1m11ar froi many polnt.s of v1ew, share never. t.he less a hasło ooRion Inahlllt.y t.o draw sat.1sfaot.ory d 1 s 1.1 not. 1 ons bet.ween dlfferent. sort of st.at.e aot.1v1t1es and expend 1 tur es . On t.he one band -espeolally a m o n g Keynes łan eoonomlst.s- all kłnds of st.at.e aot.1v1t.y and expendłt.nre are' regarded as essent.łally słnllar:    all of t.hem, t.hough posslhly in dlfferlng

degrees, have .mnlt.1p11oat.1ve effeot.s on Income; on t.he ot.her hand - espeolally among eoonomlst.s morę free-market. orient.ed - all kłnds of st.at.e aot.1v1t.y and expendł t.nre are regarded as essent.łally slmłlar:    all of    t.hem, t.hough possihly in

dlfferlng degrees, produoe negat. 1ve effeot.s on t.he oorreot. spont. aneous funotloning of t.he market.. Therefore,    t.he

t.radlt.łonal Keynes 1an stand łmplłes t.hat. st.at.e expendł t.nre In generał should he inoreased 1n order t.o promot.e t.he growt.h of Inoniie and eraployment, whereas t.he market, orient.ed phłlosophy leads to t.he opposit.e conol lisi ons . Finał 1 y , anot.her vłewpoint oan he added t.o t.he t.wo ahove ment.loneri, t.he r a d i oa 1 /Ma r x i s t. stand:    st.at.e    aotłvit.1es and expend 1 t.nres are all

* unproduot. 1 ve * hut. at. least. some of t.hem are soolally neoessary and t.herefore t.hey must. he expanded as mu oh as posslhle t.o 1mprove t.he oondlt.ions of t.hose soolal gronps and st.rat.a whłoh are most.ly damaged hy t.he free funotloning of t.he market.

Tn our opinlon, all t.hese t.hree st.ands are nnsat.1sfaot.ory and t.heore1.1 oa 1 1 y f 1 awed . Al t.hough we do not    Int.end    to

d1sm1ss t.he relevanoe elt.her of t.he miilt.lpller effeot.s, or t.he d1st.1not.1on bet.ween produot.ive and    unprndnot.i ve

aot.1v1t.1es, or t.he soolal welfare 1mpl1oat.1ons of sta te aot.1v1t.1es, we believe t.hat. t.he t.hree poslt. lons fali t.o peroe 1 ve • t.hat. puhlic aot.1v1t.1es must. also he d 1 f f er ent. 1 a t.ed aooording to t.heir m i oroeoonom 1 o 1 mp 1 1 oa 1.1 ons .

The t.radlt.łonal    Keyneslan posltlon appears t.o    u s t.oo

s1mpl1st.1o    1n It.s    t.reat.ment.    of    pnblio expend 1 t.nres as all

essent.łally slmłlar In t.hat.    all    produoe mult.lpller    effeot.s.

F.ven t.hough    1 t. is    t.rue t.hat., In    t.he short. period,    whatever

k1nd of expend1 t.nre det.ermines slmłlar mult.1pl1oat.1ve effeot.s