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in this context, the questions of black markets and grey markets
emerges in a different setting. It is not saying that you will not have
some form of tensions. This is implicite in the concept of « steering »
as distinct from « letting it drift ». Certainly you must try to consti-
tute your system of incentives in such a way that there is as little
rension as possible But it is impossible to avoid tension all together
\LLAIS
[ apologise for taking the floor again, but it is only for a few
minutes, for clarity. In Prof. FriscH’s paper, there were in fact two
sort of things, firstly political views and value judgements relating
1 particular to the market economy and, secondly, technical analysis
of certain points. I would not have raised any questions about the
frst part if Prof. FriscH had said the view he expressed were
personal views. But they were presented in such a way that the
aninformed reader might think that these views are indispu:able and
correspond to well established facts.
I appreciate that Professor FRISCH can give a personal definition
of growth, but in fact he says that a free market system cannot
ensure the realization of rapid economic growth. In this context
‘he word growth is clearly used in the usual sense and not by
reference to another particular definition.
As far as the future of economic planning is concerned, perso-
nally I am not against any study of the theory of planning. On the
contrary, I am very much interested. I think this type of work can
be very useful, but on one very definite condition, that is that this
‘heory be expressed in a very neutral form, without expressing defi-
nitive and dogmatic value judgments about what a market economy
really is or what a central planned economy really is. These questions
are details and I don’t wish to make too much of them.
But y put four fundamental questions which are very technical
and I apologize if I was not able to express my thinking sufficiently
early. I think Professor FriscH has not answered these four
fundamental questions in a satisfactorv wav
Frisch - pag. 33
