“TSCUSSION 
ALLAIS 
I said we must be very grateful to Prof. FriscH for his very clear, 
and, I would say, provocative exposition of the future of econo- 
metrics. I would also say that I have had much occasion to admire 
Prof. FRISCH’s work. From a technical point of view, I completely 
agree in general with his position, but his paper also expresses many 
views which rest on value judgments and have evidently many po- 
litical implications. Professor FriscH has given his point of view in 
a very excellent way as far as clarity is concerned, but I cannot follow 
him insofar as fundamental questions of applied political economy 
are at issue. His paper raises many questions which are connected 
with the ordinary work of the econometrician, but which, it must be 
recognised, have a high content of a political nature. 
I am sorry that my knowledge of English is not such as to permit 
me to express myself with all the nuance of meaning which is desirable 
and this makes it difficult for me to specify my personal views clearly 
‘0 you. But I think the purpose of this meeting is to bring out 
divergences of opinion very clearly and it may perhaps not be without 
utility to pur forward a different view from that of Prof FRISCH. 
*) Comments on the FriscH's paper presented to the Study-Week. 
Only a small part of this paper has been maintained and Professor ALLAIS 
nas not had the possibility of reading the revised and reduced paper 
printed on the preceding pages. 
Frisch - pag. g