By Gunnar Myrdal
Opposed to The move: serious Essays On Economics, by means of Myrdal, Gunnar
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Extra resources for Against the Stream: Critical Essays on Economics
As getting a loan implied a gift, "connections'' in the widest sense of the word became important, ordinarily favoring the upper income strata. These are huge generalizations, with many individual deviations, and they best fit the Anglo-Saxon countries, France, and the Scandinavian countries and only later the defeated Western countries, Germany and Italy, after they had reached a measure of economic stability. 3. Effects of Inflation Only gradually was ongoing inflation experienced as a problem, and few economists made an early move to analyze that problem in any depth.
They should be carried out in terms of cost/benefit analysis. In anticipation of such deeper studies we can, however, establish the fact that in Sweden the welfare state, which has been developing rapidly for almost forty years under a single-minded Labor government, has also been a remarkable economic success. Economically, the country has reached a level that is not far below and Place of Values in Social Policy • § 4 43 might be higher than that of the United States (see Chapter 10, Section 6, and Chapter 14, Section 8).
The generations of which Marshall wrote have now passed or are passing. Meanwhile, social reforms in the developed countries have rapidly advanced. B The state had to interfere in the working of the market forces in order to preserve internal stability. Undoubtedly, this necessity for continuous interference was one of the contributing forces in the rapid development of the welfare state. Taboos were broken. And when the state had to interfere, it had at that late time become natural that the weaker sections of society should be protected.
Against the Stream: Critical Essays on Economics by Gunnar Myrdal