Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: On the concept of optimal economic growth / Tjalling C. Koopmans, Cowles Foundation for research in Econimics at Yale University New Haven, Conn. - U.S.A.

Collection:: Economics Books

296 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 KooPMANS I want to thank Prof. MORISHIMA for the information he gave us for a model in which the rate of population growth is a function of consumption per head, initially increasing and thereafter decreas- ing. This is, 1 think, a realistic generalization that it is important :o have. On his second point, the asymmetry in treating capital and labour with regard to disposal, I would agree that that is something not very consistent in the paper as presented. I do not think it has affected any of the results in any of the optimal paths being considered — paths in which at all times the capital stock is fully used as much as the labour force (1). MAHALANOBIS I am very deeply impressed by the approach and the broader results of this paper. It seems to me that although a very simple model has been used on, if you like, somewhat intuitional grounds, the conclusion seems to be extremely important from the point of view of the underdeveloped countries. The conclusion to which I am referring is that neutrality regarding timing between generations is not possible, the very nature of the process of development or of industrialization discriminates in favour of future generations. Thus I am taking to be a basic point, on page 28, the argument that accu- mulation of capital, permitting a higher output of consumption goods in later years must discriminate in favour of future generations, The broad conclusions may have important educative effects regarding programmes in underdeveloped countries. I am not going into details of technical arguments, but suppose nstead ofthe one commodity model we have three types of capital () Note added after the conference: In the corrected version of the paper printed in the volume, disposal of capital use has been excluded. 11 Koopmans - pag. 72

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