ABSTRACT
The main task in Part III of this work has been to discuss the means by which the ends of full employment and a stable value of money (together with a certain distribution of the national product between consumption and investment, and, in the preceding chapter, a certain balance of payments too) may be realized when the economy is affected by certain typical disturbances. We have started from certain given definitions of the ends, a certain given model and certain given disturbances which have undesirable effects upon those ends; from this it is then shown which measures may be taken. Now if the results which have been achieved this way are to be fully valid as practical policy recommendations, then our knowledge of the way in which the economy functions and also of the disturbances to which it is exposed must, in some sense, be reliable, i.e. correct. If these two conditions are fulfilled no problem will arise and the ends of full employment and a stable value of money can be achieved, provided, of course, that with the means considered permissible, the ends are not in conflict with one another (see Chapter 1, 9). On the other hand, if these conditions are not fulfilled, problems will arise which in the main we have disregarded, but which are fundamental for all practical policy. We shall devote this final chapter to some observations on these problems.
