Business Fluctuations and Public Works

Georg Bielschowsky

The Quarterly Journal of Economics, 1930, vol. 44, issue 2, 286-319

Abstract: Public works the most flexible of the major public expenditures, 286.—Relief works, 287.—Mr. Hawtrey's objection to long-range planning of public works as a remedy, 289.—Professor Cassel's argument, 291.—Other arguments, 292.—Qualitative limitations to the plan, 293.—Quantitative limitations, 295.—Shifting of public construction may increase industrial fluctuations, 297.—Administrative obstacles to an ideal allocation of public contracts, 301.—The problem of coördination, 302.—Technical obstacles, 305.—Economic obstacles (1) due to unpredictability of business; 308 (2) due to uncertainty as to effect of remedial measures, 313.—Conclusion, 318.

Date: 1930
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