Over het macro-economische beleid voor de middellange termijn

Summary In the Netherlands there has been laid much emphasis on the goal of economic growth in recent years. There seems to be a tendency to exaggerate the benefits somewhat and to pay less attention to the costs of growth. In the context of medium term planning there is not much sense in aiming at a maximum growth rate; on the basis of detailed information the medium term plan should aim at a careful balance between several desiderata.In this connection the distribution of domestic expenditure between private consumption, private investment and public spending is of great importance. As the national rate of return on investment seems not to be exceptionally favourable, perhaps a case can be made for putting less emphasis on the expansion of privateinvestment, which is already high in this country. In any case there can be reason to formulate targets for the relative growth of the different spending categories in the medium run. In this line of thought budgetary and monetary policies should be specifically designed for the realization of these targets. This seems to be a more satisfactory approach than the existing methods in the field of macro-economic policy, which rely to a large extent on rules of thumb.Rede, uitgesproken bij de aanvaarding van het ambt van gewoon hoogleraar in de Staathuishoudkunde aan de Nederlandse Economische Hogeschool Hogeschool voor Maatschappijwetenschappen to Rotterdam op 2 november 1967. De uitgesproken tekst is op een aantal plaatsen gewijzigd of aangevuld.     

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