In 1932, in fact, no less than 78. Resources iServ^ce LeueZs. F I S C A L P O L I C Y AT T H E S T A T E LEVELS 235 result in better administration of the property tax and in fewer delinquencies, and it would help to remove the block to construction activities. Free dom of incorporation under general corporation acts represented planning even more than did multifarious special charters. Prestige consumer healthcare company. If foreign exchange is available, this increased demand for imports will be effective in markets abroad and will result in higher imports. However, we have passed the pioneer stage of applying quantitative nutritional requirements to the establishment of agricultural food-production goals.
Domestic industrial control measures, transportation and labor policies, public spending and taxation, price control, and many other things will have to be considered and agreed upon; if these domestic policies are not some how coordinated, an agreement on tariffs will be futile and situations will frequently arise which make tariff agreements untenable. Can we agree on how to de6ne it, measure it? " Taussig, "Reciprocity, " Quarterly JottrnaZ of Fcoftowtca (October, 1892), reprinted in Free 7rade, the Tart#* and Rgc:proc%y (1920), pp. 2 billion in a postwar year. Date Written: November 11, 2013. The next step is to estimate the extent of reallocation of resources and the resulting readjustments in the economy which will be necessary during and after the war. The war has completely altered the composition and directions of flow of world trade, and, if the objectives set forth in the Atlantic Charter are to be realized, the postwar pattern of international commerce will be markedly different than that of the 1930's or the 1920's. Fashion Marketing - Student Notes - Marketing Concepts -Student Notes Accompanies: Marketing Concepts 1 Directions: Fill in the blanks. The Marketing | Course Hero. Suburbs have grown in all directions and, con sequently, the metropolitan center has lost in taxpaying capacity.
G/ waiTttaiwed boom. All history shows that the continuance of evolutionary progress in government requires a high degree of flexibility and adjustment to changed social forces; and that the effort to compress these forces into traditional molds produces, sooner or later, social and political revolution and economic chaos. Characteristically, 50 per cent of America's farms produce 85 per cent of her marketable agricultural output, while the remaining 50 per cent of the farms yield only 15 per cent of the crop. Prestige consumer healthcare products. This standard provides a yardstick against which the nutritional quality of foods can be measured, meals can be balanced, menus for people of different incomes worked out. It is impossible to discuss at this point the * Whether and where to draw the line between these two systems and between both of them and capitalism need not be discussed here. IX The long-run outlook for employment will be aiTected also by the political policies of the labor movement. This price is then guaranteed by the government to such buyers as might be restricting their purchases to keep price down, or to such sellers as might be restricting their output in order to keep the price up. M. Stewart, "Headaches in Post-war Planning, " The Vol.
The conse quences of this change, moreover, may weaken the power of local and national monopolies. The effect of population growth upon investment incentives is both a complex and a controversial matter. In order to provide themselves with a further outlet, investors would have to give away still more of what investment income they had left (the original gift being repeated of course in each succeeding income period, otherwise consumer demand would sink back to its original level). There is no justi fication to envisage a "generation" or decade of prosperity from this factor. Where, for the services discussed above, a relatively high degree of Federal Rnancial participation is preferable—for political or administrative reasons—to direct central administration, such participation should take the form of variable-ratio grants, as F I S C A L P O L I C Y AT T H E S T A T E LEVELS 233 opposed to uniform-ratio or equal-sharing grants. Many important food industries are now emphasizing the nutritional quality of their product in the advertis ing and merchandising of their product. The training is not con6ned to industry. Consumption forgone today is gone forever. Small countries are uneconomical because the markets which they supply are not sufficiently large to make possible their enjoyment of the advantages of mass production and of full division of labor. Modern war involves an over-all reallocation of human and material resources between products and their uses. Friends and foes of socialism are in the habit of endowing their concept of it with additional traits and hence in general mean by it something much more specific. With this preface two general rules may be suggested that should govern all public policy insofar as it is designed to control the general level of economic activity. Far more effective recognition should be *D epgr% 7% of 77M Aug. 1, 1942, p. 670. What is to prevent us, after the war, from replanning and rebuild ing our towns and cities in conformity with these principles?
But in this case nothing like the present valuations placed on most of such land can be maintained. It was hoped that such a program would be acceptable to the doctors, but organized medicine, while not unqualifiedly opposed, seems fearful that anything of this sort will serve as an entering wedge for com pulsory health insurance. With the advance of technology, we shall be able to produce the equivalent of our current income of goods and services with a much smaller amount of labor than is required now. Of these it is quite likely that major attention will again be given to old-age security. For whatever it is worth, the evidence indicates that, with economic activity maintained at a wartime level and with government budgets reduced to a modest total, consumers' expendi tures and business expenditures would provide an adequate market for the whole output of the economy.
And the general principle here calls for prevention of labor monopoly quite as much as enterprise monopoly. But the prospects in this con nection are unlikely to provide an adequate solution in the long run, as pointed out under a above. It is also narrower than economic security or security, as economists use these terms. Nevertheless, it is not a matter of indifference for the national economy as a whole where the reactions from a particular project will be felt. These credits in turn would be drawn upon as the United States spent dollars—which would be paid in to the authority handling the plan—for foreign goods and services.
TAe Quesftow of Admittedly, the proposals set forth above would involve certain drastic departures from existing fiscal structures and intergovern mental relations. This involves partly an expanded program and partly a means of reducing state and local property and consumption taxes, thereby stimulating private consumption expenditures. While this adjustment was going on, labor might possess great power to appropriate profits without seriously limiting the volume of employment. The Federal percentages would vary inversely, and the state percentages directly, with state resources, possibly measured by average per capita income, which is a rough measure of both resources and needs. First, on the basis of the anticipated contraction in consumer credit that will occur, it appears that the volume of consumer credit outstanding will be some $8 billion below what would be normal under the conditions postulated for a postwar year. Let us arbitrarily assume that economic activity and, therefore, consumer income are, in some fashion, maintained close to their wartime level and inquire whether consumption and capital expenditures will, given this postulate, be sufEciently large to provide a market for the output that will be produced. The conversion of heavy manu facturing industries will leave a postwar problem of physical read justment but their business organizations generally will be left intact. The result was that, e. p., Austria, Germany, Italy, imported more grain from eastern Europe and less from overseas. See Geoffrey Crowthefs discussion of the British postwar shortage of MONETARY STABILIZATION 389 Exchange appreciation, on the other hand, may be matched pan passu by deflation so that the appreciation of the currency does not stimulate an increase in imports nor restrict exports.
Important structural changes in the world economic order grew out of the First World War. W e need continued advance in the techniques of production, distribution, and transportation; in short, in all those elements that enter into a higher standard of living. Meanwhile, new sources of capital accumulation have been appearing as new areas have reached the stage of indus * There is a wide range of variation in the amount of capital required to introduce new techniques, new products, new resources, etc. If it is, there are two directions in which our exports can Row without exercising a deflationary influence upon the rest of the world. A research and experimental agency endowed with adequate capital, say $50 mil lion, should be set up to solve on a full commercial scale the problem of producing good low-cost dwellings. The economic policies of organized labor are likely to help prevent a postwar boom. The viewa of Mr. Bryce in this volume. Once the structure of the national economy is described in terms of some particular classification of such entities, i. e., in terms of separate industries, households, Federal and local governments, etc., the actual process of production and consumption can be reported in a two-way table showing the origin and the immediate destina tion of every type of output. But the existence of such groups as these two in almost any country is not the question at issue; we know that they exist in all countries. The rise of output per man-hour will depend in no small part upon the level of employment. One of the reasons is the pressure to avoid direct competition with private enterprise. 2 billion (including 1. The spread of labor organization which has been accelerated by the war represents one of the greatest shifts of economic power in history.
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