78 SOCIAL SCIENTIST course to the supply of wage-goods. A sharp profit inflation in the wage-goods sector can cause, and is known to have caused, severe famines. Deliberate State investment is needed to eliminate supply-adjustment lags in wage-goods and in other key sectors. In sectors like agriculture, it is essential in any case to activate private investment, i.e. for the process of supply adjustment itself. In addition, by anticipating profit inflation and activating supplies before the event, it can in fact eliminate the very need for profit-inflation, and hence the attendant economic hardships. The third reason turns on the distinction between spontaneous and non-spontaneous structural change. Even if a system is not demand-constrained, and even if sectoral imbalances are instantaneously eliminated through the perfect shiftability of capital from one sector to another, the accumulation process is accompanied by a process of spontaneous structural change. The introduction of new processes and products which are perceived to be marketable gives rise to spontaneous structural change. The market in other words responds not only to visible signals, but also to a certain range of invisible signals. What it does not respond to is a range of other kinds of invisible signals, e.g. the social discontent inherent in a situation of unemployment, poverty and sub-human existence. The latter require the deliberate introduction of non-spontaneous structural changes, and this can only be done through deliberate State intervention. It may be thought that the elimination of poverty is a matter merely of raising the rate of accumulation further, leaving the market to decide where this accumulation goes, so that this case is merely a part of our first reason. This however is not necessarily correct. Raising the rate of accumulation, if it simply accelerates spontaneous structural change and thereby raises the rate of growth of labour-productivity, may have a negligible additional impact by way of absorbing the poor and the dispossessed into higher-paid wage-employment. And if the population is expanding rapidly, then this absorption may require rates of accumulation which are impracticably high if a reasonably meaningful time-horizon is chose. The need arises therefore for introducing non-spontaneous structural change, and curbing to an extent spontaneous structural change. Both this introduction as well as this curbing require State intervention. Taken together, these three reasons for State intervention constitute an argument for more than mere fiscal interventionism, for more than mere public investment policy. They amount to a case for the state shaping broadly the trajectory of growth itself. While this is what I mean by planning it is obviously not synonymous with central planning, with detailed output targets, that was current in the Soviet Union earlier. There would be a range of public investment targets that the State would try to meet. It would seek to realise complementary private investment targets, and hence certain minimal levels of output