834707332

considered from a regional point of view. At the same time imports should be placed under stronger economic control and freed of bureau-cratic interventions. A significantly greater degree of liberalization of imports is necessary to equalize the conditions of economic activity in import-dependent production, and to make our exporters compet-itive on the world market. The convertible and clearing markets re-quire initially two different, but much morę harmonized as well as elaborated regimes than is the case today, When the entire elaboration is implemented in practice, it will be necessary to carry out a new devaluation which will be determined by the foreign exchange market, and only then will the intentions of the reform be carried out in this area.

8. In recession phases of the cycle there occurs exhaustion of ac-cumulation which is spent on financing inventories and on financing personal incomes. The economy then becomes increasingly dependent on the banks. Credit conditions become increasingly difficult and thus repayments absorb an ever greater share of the economy’s accumula-tion for: (a) losses are covered in an irregular way and (b) monetary restrictions further reduce the available supply of money in relation to existing demand. In that way a vicious circle is created and every attempt to increase the reproductive capability of the economy ends in failure. This conclusion holds also for the current proposal that credits be transformed into constant working Capital. A possible escape from this situation is the following:

(a) Levelling off of cyclical fluctuations.

(b) Leave the interest on business Capital to enterprises as an ear-marked source for investment.

(d) Form a Capital market, by which the mobility of funds would be increased and the monopoly of banks reduced.

(e) Achieve financial discipline of socio-political communities as well as honoring of procedures in sanitation of losses.

(f) Supply the economy with enough quantities of money so that illiquidity with its well known chain reactions does not occur.

(g) Supplement selective credit policy with fiscal measures in harm-onizing individual segments of supply and demand.

9. The tax system requires generał revision which, however, we cannot analyze here exhaustively. We cite only two negative effects which should be eliminated:

(a) In building of prices there are so many rigid elements (normed amortization, normed interest on business Capital, fixed levies on personal incomes, fixed obligations in repayment of loans), that the pricc is practically completely absorbed by them (for personal incomes are not and cannot be flexible downward). Therefore in the case of re-

15 PRAXIS 553

Wyszukiwarka

Podobne podstrony:
beginning of 1970. At the same time imports passed through an entir ? administratively conditioned c
its registered office in Nicosia, Cyprus, constituting 49% of the share Capital of WIRBET. At the sa
the unconscious phenomena of cognition as well, while at the same time it should treat the cognitive
Przegląd Geologiczny, vol. 55, nr 12/1, 2007 Lublin Region. Lublin region from a petroleum point of
27680 page13 (9) TypelVW1200 A From a technical point of view this model has been con-siderably impr
ly to confine itself to political processes, at the same time it ought to constitu-te the whole of s
“ WESTERN » I S P0LAND2S At the same time, Western Poland has slightly higher leve
Functions • Humans are capable of analysing about 7 items at the same time •
autostretching0146 If you bend backward and to the right at the same time. the vertebrae of the thor
2 NOTES BRfiVES 121 likc an eagle rather tlian a raven 1 2 3. At the same time, somc of the ver
00444 )a588943785e7aaa29215489e95475a A Graphical Aid for Analyzing Autocorrelated Dynamical System
S5003995 The Celts outside Gaul fincncss. At the same time, geographical distribution became morę de
3 7 11 We inform few competitors that we conduct negotiations with them at the same time. We organiz
Fili your bag with coffee beans or loose tea for a gift that can be used and displayed at
CCF20100223012 The main difference between English and Polish diphthongs, and at the same time łhe
existing society, that which it purports to refute and which at the same time, being negative to wha

więcej podobnych podstron