On the Theory of the Centrally Administered Economy
An Analysis of the German Experiment. Part II
Bibliographic Data
| ID | 9727727 |
|---|---|
| Authors | Walter Eucken, T W Hutchison |
| Year | 1948 |
| Volume | 15 |
| Issue | 59 |
| Pages | 173 |
| Publication date | 1948-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2549402 |
| OpenAlex | W2316046961 |
| Language | EN |
| Citations received | 9 |
i. THE student of history will remark that where an economy is predominantly under the direction of a central administration, it is usual for an exceptionally large amount of investment to be undertaken. This was the case in Germany after I936, in Russia after I928, and in quite other societies, such as those of the Incas in I500 and of ancient Egypt, and in many other examples. How is this historical fact to be explained ? One decisive element responsible cannot be dealt with by economic theory, since it lies quite beyond its range. This is the sociological fact that the leadership in such a community builds towns and roads, factories, railways, power stations, and so on, in order to strengthen its political power. The methods of centrally administered control may be introduced for the specific purpose of speeding up investment. This consideration played an important part in Germany in the 'thirties. A central administration is less concerned with the production of consumers' goods. It is particularly those branches of industry-like the iron and steel industry-which go to produce investment goods, which will be expanded. If this investment is successful in increasing political power, its effects on consumption will be disregarded. Political and economic authorities may not always be in the grip of this sort of striving, but it always plays a certain role. The economist cannot explain why the central administration wants to force up the rate of investment, but he can answer the equally important question as to how it can enforce its will, since this depends on economic factors. In this respect, the apparatus of a centrally administered economy is of particular interest
Administration (probate law) · Consumption (sociology) · Economics · Economy · German · Investment (military) · Investment goods · Macroeconomics · Market economy · Order (exchange) · Political economy · Political science · Politics · Power (physics) · Production (economics) · Social science · Sociology · Economic Theory and Institutions · Finance · History · Law
Competing institutional logics in Soviet industrial location policy
The meaning and validity of East Germany’s demise
East‐west comparisons and comparative economic systems
Denazifying the Economy
Le marché sans pouvoir
The consumer second economy
Individual versus Regulatory Ethics
Retour sur le libéralisme conservateur de Wilhelm Röpke
The importance of the Public Choice School both for the criticism of the centrally planned economy and for the process of its dismantling
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,16 |
| Citation span | 1971 - 2018 (48) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 5 |