Full text: Study week on the econometric approach to development planning

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). 
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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