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In the past decade the concern with economic growth has been so great that the empirical study of productivity levels has been relatively neglected. Estimates of the present standing of different countries must therefore rely mainly on extrapolations of work done a decade ago. One reason why this field has been neglected is that the O.E.E.C explored the subject of real G.N.P. levels pretty thoroughly in studies published from 1954 to 1959 and these still provide a reasonably firm basis for extrapolation. The present work uses such studies in order to estimate the relative productivity levels in 1965 of 8 West European countries, Japan, the U.S.A. and the U.S.S.R. JEL: O47, O57

In spite of the large literature on development and the growing number of estimates of future trade or savings “gaps” there are no acceptable or consistent estimates showing the past history or existing state of the balance of payments of developing countries as a group. Moreover, assessing the likely impact of changes in trade or aid policies designed to help the developing world depends on understanding the present situation. The present paper fills this statistical gap, which is so important for policy discussions. The estimates provided are crude, however, they shed light on the magnitude and interrelations of important problems. JEL: F31, F32, F35

Japan is the only non-European country to have made the transition from being underdeveloped. Over the past century it has had the fastest growth rate of any country, and in the past decade has outpaced all other countries. More than in any other developed country except the U.S.S.R., Japanese growth has represented a deliberate effort of government policy. The Japanese experience is therefore of particular relevance to developing countries, and its recent performance also raises important queries for Europe. The present article analyses Japan’s economic performance considering whether ideas on feasible growth rates need be revised, to what extent Japan has succeeded in achieving maximum growth, and if its experience is transferable. The author first details the stages of Japan’s growth, before analysing the level of productivity and use of resources. The business cycle is then considered as well as the factors affecting growth performance. The author then examines the lessons of the Japanese experience for developing countries and finally the prospects for the future. JEL: O53

While in the 1950s Soviet output grew faster than most other industrial countries, the early 1960s has seen a noticeable slowing down in growth. The present paper puts these economic developments into perspective to judge the efficacy of Soviet policy in its attempt to achieve maximum growth and transform an underdeveloped into a developed country. The author first assesses Soviet performance and policy at different stages of development, before assessing the level attained. The purposes for which output is used and the major factors responsible for Soviet performance are then analysed. Finally, likely future developments are considered. JEL: P27, O40

The article examines the factors which have modified the operation of the business cycle in the post-war period and analyses the extent to which the experience of high levels of demand and employment has been due to accidental and temporary circumstances, to permanent changes in the structure and behaviour of the economy, or to improvements in economic policy. The author first characterises the postwar record in statistical terms and sets it in historical perspective. The factors which have contributed to high levels of European demand are then described, distinguishing between temporary and more permanent changes. Finally, the changed role of government is analysed in detail. JEL: E32, E24, E60, F44

The paper analyses developments in labour productivity over the past century, and examines the factors which explain variations in its pace of growth. Four main phases are distinguished, 1970-1913, 1913-1950, 1950-1970 and the 1970s. The major concern is to explain why the postwar record has been so brilliant by historical standards, and why performance has slackened in the 1970s. JEL: J24, O47

Within the period of modern economic growth, there have been distinct and important phases of development. Such phases have characteristics which put constraints on the performance of individual countries, whether they be fast or slow growing. The present paper deals with developments since 1870 in 16 of the more advanced capitalist countries, and divides the past century’s experience into four phases. The author looks at long-term performance records, interruptions to growth, phases of growth and finally explanations of differences in momentum between phases. JEL: O11, P10

Nel " periodo d'oro " degli anni 1950 e 1960 la crescita economica nei paesi capitalisti avanzati ha superato tutti i record storici . La performance di crescita nel 1970 si è quindi significativamente deteriorata , e il ritmo di inflazione è più che raddoppiato . Il presente lavoro si concentra sui temi del rallentamento dei tassi di crescita e l'accelerazione degli aumenti dei prezzi in questo periodo . L'aurore analizza per prima cosa le favoreboli condizioni degli anni '50 e '60 e le buone politiche applicate . sucessivamente viene analizzato il deterioramentonegli delle politiche economiche negli anni '70 . Infine viene trattato il grado di successo o il fallimento della politica economica negli anni '70 . In the “golden age” of the 1950s and 1960s economic growth in the advanced capitalist countries surpassed virtually all historical records. Growth performance in the 1970s then deteriorated significantly, and the pace of inflation more than doubled. The present paper looks at questions related to the slowdown in growth rates and the acceleration of price increases in this period. The author first analyses to what extent favourable performance in the 50s and 60s was due to chance or good policy. Conversely, the extent to which deterioration in the 70s was due to circumstance or bad policy is then considered. Finally, the degree of success or failure of economic policy in the 70s is dealt with. JEL: E31, E65

L' articolo riguarda la grande e continua crescita delle spese per lo "stato sociale" . Esso analizza le ragioni per la nascita dello Stato sociale e il suo impatto sulla crescita economica . Il lavoro è inteso come una diagnosi di questa crescita dal 1883 , esaminando le forze causali dietro l'espansione e il suo impatto nel mitigare i conflitti sociali che Marx ha rilevato nei primi decenni del moderno sviluppo capitalistico .E' anche considerato che lo stato sociale ha raggiunto limiti disfunzionali che ostacolano le prestazioni economiche . L'autore aumenta il record storico con l'analisi cross-country di sviluppo nelle cinque grandi economie capitaliste più i Paesi Bassi , al fine di raccogliere prove convincenti The article is concerned with the large and continuous growth of “welfare state” expenditures. It analyses the reasons for the emergence of the welfare state and its impact on economic growth. The work is intended as a diagnosis of this growth since 1883, examining the causal forces behind expansion and its impact in mitigating the social conflicts which Marx detected in the first decades of modern capitalist development. Also considered is whether the welfare state has reached dysfunctional limits which impede economic performance. The author augments the historical record with cross-country analysis of development in the five big capitalist economies plus the Netherlands, in order to assemble convincing evidence. JEL: H53, I38

The paper is a contribution to a series of recollections and reflections on the professional experiences of distinguished economists which the Banca Nazionale del Lavoro Quarterly Review started in 1979. Angus Maddison recounts his life and career as an economist. JEL Codes: B31

A major problem with the existing estimates of Italian GDP estimates for the nineteenth century is that they show virtually no advance in per capita GDP for the three decades before 1890, when all other Western European countries were experiencing significant growth. These estimates have troubled historians trying to interpret Italian economic development as well as analysts of comparative economic performance. The present work examines the problems related to official estimates of Italian GDP and puts forward revised estimates. JEL Codes: N13

This paper provides quantitative intertemporal and international perspecti­ves for assessing performance in 16 European capitalist countries. 1950-73 was a golden age due to enlightened policy and once-for-all opportunities. The subsequent productivity slowdown had elements of inevitability given Western Europe's closer proximity to the technological frontier and the slowdown in progress at the frontier (in the lead country -USA). However, the slowdown was aggravated by pursuit of secundary, irrelevant or irratio­nal macropolicy goals, by microeconomic weddling and inflexible labour markets which have raised unemployment. East European transition has been hindered by Western Europe's obsession with is own integration. JEL Codes: O11