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Colm, 1940. Social Research 7(4):447-467

Full Employment Through Tax Policy?
Gerhard Colm

Social Research: An International Quarterly

Arien Mack, Editor

Volume 7, No. 4 (Winter 1940): 447-467

EXCERPT: During the depression the question was raised of the role that fiscal policy could play in an effort to bring about a permanent adjustment of the economy. Those who regard the discrepancy between the propensity to save and the demand for capital as one of the fundamental maladjustments conclude that fiscal policy can play an important role with respect to structural adjustments. Such fiscal policy must either absorb savings through continued government outlays of borrowed funds or reduce savings by taxation. Spending would meet even more opposition as a permanent than as a cyclical device. Therefore the question must be raised, with respect to cyclical and even more to structural adjustments, of whether tax policy can accomplish the objectives which have been assigned to a spending policy...
Stock number:SRJ-ART-074-0447 Price:$15.00

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