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Investigates, in Part 1, the effects of West German stagnation in the 1980s following on from the welfare state doctrine of the 1960s and 1970s, which led to an economic and social crisis becoming inevitable. Shows this is not purely a German problem but one that also affects almost all other capitalist countries – either developed or developing. Expresses irony that the former communist bloc countries should also be engulfed in such crises. Proffers explanations and recommendations to offset the problems in Germany. Part II looks at Israel and how it has begun to emerge from its 1974 austerity programme by Rabin. States that Israel must initiate a new system of stable equilibrium to open a new era that is very possible, but involves economic and social thinking to avoid previous mistakes.

EU social policy is perhaps the most controversial aspect of European integration yet, despite all the political clashes on the matter, concepts like “social Europe” or “social dimension” remain ill‐defined and imprecise terms. Intends to outline and clarify in detail the debate about whether or not the European Union should have competence with regard to labour market affairs. A key message is that social policy has been controversial because it has become embroiled in the debate about the future political direction of the EU. In particular, three contrasting political models –symbiotic integration, integrative federalism and neo‐liberalism – have been put forward as organizing principles for the EU and each has a coherent view of what form social policy should take at the European level. It is the clash between these three models that has caused EU social policy to be so contestable and intractable.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

Whenever capitalism in the West appears to be dragging with unresolved problems, then quite a few people, including professional economists, begin to think that perhaps socialism is a better alternative. Conversely, in the East even a larger number of people, including economists (who are not activists), seriously believe that in view of their shortages and meagre incomes capitalism would be a better alternative.

André Gide's prophetic words during an interview at Karlsbad in 1933: “Hitler represents a delay in the progress of humanity. There will be another peaceful Revolution in Spirit — different from Capitalism, Socialism‐Communism and Fascism — which will guide the development of humanity to its right destination.”

The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and the future, potential, best possible conditions of general stable equilibrium which both pure and practical reason, exhaustive in the Kantian sense, show as being within the realm of potential realities beyond any doubt. The first classical revolution in economic thinking, included in factor “P” of the equation, conceived the economic and financial problems in terms of a model of ideal conditions of stable equilibrium but neglected the full consideration of the existing, actual conditions. That is the main reason why, in the end, it failed. The second modern revolution, included in factor “A” of the equation, conceived the economic and financial problems in terms of the existing, actual conditions, usually in disequilibrium or unstable equilibrium (in case of stagnation) and neglected the sense of right direction expressed in factor “P” or the realization of general, stable equilibrium. That is the main reason why the modern revolution failed in the past and is failing in front of our eyes in the present. The equation of unified knowledge, perceived as a sui generis synthesis between classical and modern thinking has been applied rigorously and systematically in writing the enclosed American‐British economic, monetary, financial and social stabilization plans. In the final analysis, a new economic philosophy, based on a synthesis between classical and modern thinking, called here the new economics of unified knowledge, is applied to solve the malaise of the twentieth century which resulted from a confusion between thinking in terms of stable equilibrium on the one hand and disequilibrium or unstable equilibrium on the other.

The paper is based on the idea that management of a national economy is a complex cybernetic system. By considering the Romanian economy the author postulates that the relations between socio‐economic macro‐systems should be expressed in terms of national income. On the basis of the model thus established future developments in various macro‐systems are predicted, e.g. in production, technology, population, labour force, etc. The author then describes a system for the prognosis of social and economic developments in Romania up to the year 2000. In order to achieve this object a Control Commission for Prognosis has been established under the chairmanship of Mr. Nicolae Ceauşescu, the President of Romania.