By Melchior Palyi
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Additional resources for A Lesson In French Inflation (1959)
It can be expected to take years before the full benefit of administrative deflation will accrue to the harassed public and the Treasury. Raising the bureaucrats' retirement age -lowest in the nationalized industries ~ is another item on the same agenda. 1 A "fundamental recasting" of the French tax system was proposed on May 15, 1959, by the Minister of Finance who recommended replacement of the two personal income taxes by a single tax, to be levied at the source; reduction of the (confiscatory) estate duties for inheritance in direct line; and so on.
___ 7 Mines ____________________________________ 6 Metallurgy ----- --- ----- ------ ------------ 15 Machine Tools, Electric and Naval Equlpment. _______________ 8 Construction Materials, Public Works _________ 9 Chemicals ______________________ .. _________ 19 Food Manufacturing & Marketing _______ .. _____ 25 Textiles _______________________________ ~ __ 11 Transportation ____________________________ 7 Department Stores _________________________ 6 Diverse Industries and Stores ________________ 22 Banks 7 - -- - - - - -Mortgage Credit __________________________ 7 Insurance ________________________________ 6 Holding Companies ______________ "--------.
Technocracy is the better off the less competition it faces. Its natural breeding ground is the mammoth organization that embraces an industry: coal, electricity, gas, aviation in Britain and France; railroad and telephone all over Europe, to mention the largest ones. Their near-monopolistic position and the centralization of their managements provide rich scope for grand scale planning and expansion. The functional significance of the technocrat comes to light in the framework of these monopolistic and centralized Leviathans.
A Lesson In French Inflation (1959) by Melchior Palyi