Word: governmental
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Dates: during 1950-1959
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Although the Freedom School supports the elimination of government, its followers claim not to be anarchists, who embody socialism, but "nonarchists." In economics, they support a simple Smithian philosophy of laissez faire. Labor unions, they feel, should be broken up because of their coercive habits; in the ideal world, such...
One of the most important aspects of the analysis is that it allows a detailed study of the sectors of the economy and their effects on each other and on the economy as a whole. It can bring to account every transaction in goods and services. Final demand, which appears...
The table can be as detailed as necessary. Leontief's original version had only 15 catalogues; the latest U.S. table, made in 1947, by the government, included 450 industries.
In spite of the adoption of input-output analysis by 35 interested foreign countries, the United States government has completely neglected the system in recent years. The last table devised for the U. S. economy was the 450-category chart made up in 1947. Interest at that time was occasioned...
Wartime experience, when demand is largely in the hands of the Federal Government, demonstrates the value of a realistic guide to such future events: it could assist authorities to control scarce materials, to encourage production or substitution for them well in advance, and to arrange for more imports.