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- W2041868170 abstract "RECENT ECONOMIC WRITINGS indicate an increasing interest in a plan of cycle control which relies upon the initiative, rationality, and social responsibility of private and formally unassociated business units. The problem of this study is one of determining the principal implications of this proposal in which individual businesses plan for aggregate economic stability. The study is interpretive for the most part. In that it treats an idea (theory) not yet tested in the present economy, the research involved is of a secondary nature. Current real world phenomena are introduced wherever they are relevant and revealing. However, in the main, the study proceeds on the basis of deductive logical analysis. Because of the true uncertainty facing the individual firm, the degree of rationality which can be attained in elemental actions under the current organizational setting is likely to be insufficient to secure the summum bonum of aggregate stability. The means-ends chains of business planning simply do not reach to aggregate magnitude. Consequently, stability must be achieved through an application of the law of large numbers to the firm and industry growth-directed operations of the many businesses of the economy. Over-all stability will then emerge from the elemental instability of unit non-cyclical policies. This non-cyclical direction will be reflected in the investment, inventory, sales, research, innovation, wage, and price policies of the separate firms. Further, from a long-run point of view, this direction will lead to the increased concentration of assets and control. Simultaneously, such concentration will result in a longer economic horizon for all surviving firms and, for the larger units, in a horizon that includes economic stability itself. Concentration is therefore one means of increasing the likelihood of the proposal's success. Education and the dissemination of market information are others. The latter provides a challenging role of great potential for government. Emphasis upon an informative function must supplant" @default.
- W2041868170 created "2016-06-24" @default.
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- W2041868170 date "1958-12-01" @default.
- W2041868170 modified "2023-09-24" @default.
- W2041868170 title "THE IMPLICATIONS OF BUSINESS PLANNING FOR ECONOMIC STABILITY IN THE UNITED STATES*" @default.
- W2041868170 doi "https://doi.org/10.1111/j.1540-6261.1958.tb04232.x" @default.
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