ABSTRACT
Free competition and planning are often contrasted with one another as pure systems of economic policy. In an economy of the present type we cannot expect competition to become so wide in scope that it alone could determine the course of development. International trade policy must be more consciously directed towards liberalization and the easing of restrictions. Credit policy must very largely be viewed against the background of a strong fiscal policy. Fiscal policy must contribute to bringing about economic equilibrium, to restricting the demand for capital, and reducing the problems of priorities in credit policy. Tax policy can be regarded as an extension of credit policy and as the basis of fiscal policy. More rapid changes in structure, and in particular the intensification of labour market and location policy, will make it increasingly possible for the trade unions to pursue an active wage policy, not least in the typical low wage sectors.
