A Lesson In French Inflation (1959) by Melchior Palyi PDF

By Melchior Palyi

ISBN-10: 1169829422

ISBN-13: 9781169829428

This scarce antiquarian e-book is a facsimile reprint of the unique. because of its age, it might comprise imperfections comparable to marks, notations, marginalia and unsuitable pages. simply because we think this paintings is culturally very important, we have now made it on hand as a part of our dedication for shielding, keeping, and selling the world's literature in reasonable, prime quality, smooth variants which are actual to the unique paintings.

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31) 1953' 1954' 1955' 1955' 1957' 1,630 1,543 1,079 445 1,039 815 2,367 970 3,239 1,135 2,316 1,813 1,698 1,079 315 1,280 722 3,208 1,380 2,703 1,345 2,377 2,440 1,830 1,187 299 1,477 732 3,151 1,615 2,936 1,584 2,397 3,443 2,033 1,187 411 1,847 870 3,137 1,913 2,703 1,669 2,679 3,511 1,666 824 379 1,709 741 2,652 1,428 1,794 1,288 1,954 4,446 1,880 775 469 2,070 815 2,852 1,599 1,538 1,317 2,215 3,990 1,999 832 511 2,105 787 3,337 1,700 1,584 1,469 2,598 1955' 1955' 1957' 1958 1958' (Dec. 31) 1952' lMESTlC COMPANIES 16' 1847' 1948' 1949' 1950' 1951' 1952' 1953' 1954' 75 SO 43 74 32 66 07 89 99 '51 ;01 00 28 19 07 73 43 45 1,149 1,070 1,606 839 643 1,304 985 1,178 761 1,286 1,947 1,079 1,029 1,113 411 573 225 766 1,256 1,129 1,097 1,017 1,965 ' 1,912 1,298 1,367 826 896 1,262 1,251 911 847 1,058 1,007 583 704 1,053 820 2,169 2,014 1,292 1,195 763 594 1,039 935 420 447 512 449 193 199 654 576 1,030 1,004 1,747 1,230 876 1,353 963 1,089 481 802 1,968 1,104 579 1,025 574 442 238 579 1,259 1,241 1,993 1,478 977 1,784 1,296 1,165 557 954 2,701 1,385 103 1,339 702 1,630 1,584 2,871 1,737 1,527 2,275 1,442 1,446 695 1,083 2,825 1,989 854 1,590 910 717 844 1,064 1,813 1,788 2,852 1,889 1,796 2,465 1,433 1,830 707 1,083 2,482 2,420 1,122 1,938 1,208 1,192 1,279 1,299 2,440 4,446 3,443 3,511 2,535 3,720 3,832 4,895 6,012 11,774 13,894 21,100 2,027 2,468 2,634 3,061 2,110 3,242 3,664 5,639 3,602 4,424 3,678 3,577 2,374 4,198 3,562 3,350 2,285 2,689 2,518 2,598 995 1,626 1,908 2,415 1,249 1,555 1,619 1,811 2,104 2,845 2,684 3,289 2,191 3,965 4,391 4,445 1,749 2,889 3,863 4,770 2,625 3,105 3,350 3,698 2,060 2,855 2,739 3,059 1,707 2,383 2,816 2,979 2,504 4,202 3,428 3,609 1,828 2,616 2,777 3,323 504 363 715 3,990 4,364 4,172 16,823 2,910 5,235 3,198 3,053 2,891 2,385 1,960 3,047 3,558 4,161 3,717 3,241 3,866, 4,079 3,180 Iverl,e of 12 end of month Indices.

The projected 1959 deficit of 587 billion francs, approximately 8 per cent of the budget, is the fiscal expression of the Keynesian misconception, still prevalent in France, that the growth of basic production cannot be left to the "vagaries" of the profit motive . As a matter of fact, capital investments (constructions of all sorts) appear in the current budget with a hefty 1,470 billion francs, 26 per cent above last year; they constitute almost one-fourth of total expenditures. 5 per cent at which the 2 The Fourth Republic nationalized all public utilities, coal mining, the large deposit banks and life insurance companies, trans-Atlantic passenger shipping, a substantial number of individual firms such as the leading automobile producer, and so on, all these on top of the previously nationalized tobacco and match'industries, post, telephone, and raUroads.

5. The extremely complicated structure of the tax system is being greatly simplified, with incident relief from excessive bureaucratism as well as from unnecessary administrative costs. For example, the variety of tax rates on "added value" - a sales levy on the manufacturing level, in effect - has been reduced from 20 to 4 per cent. 5 to 50 per cent. 8 to 22 per cent. But the reform of the tax system can be expected to take time. In fact, the major task is to reduce the total load of levies. Notwithstanding appearances to the contrary, the French are one of the western world's most cruelly over-taxed people.

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A Lesson In French Inflation (1959) by Melchior Palyi


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