SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 759 
and finally, from (3z-"" 
(127-7) 
H 
~ 
dR, 
a: 
When the rates of growth p(#) are considered as given, tne 
smaller the :(#) the greater ©. As from (121-2), © is a 
function of :”, we have 
(127-8) 
de 
7 
~ 
It can thus bz seen that real consumed income Rc 1s a maxi- 
mum for © =o (1). Thus we have 
'127-9) Re is maximum for i(t) - p(#)=o 
If we write Rom to represent 
we have as a first approximation 
(127-10 
LA V6 
the maximum value of Rg, 
0 [i-p=0’ 
d{i-p) 
() This result was first stated for the case of a dynamic process by 
DESROUSSEAUX (1961 A), using the formulation I had given in « Economy 
ind Interest » (1947) for a stationary process (p=o0). However, DESROUS- 
SEAUX'S line of approach is completely different from that adopted in the 
present study, for he assumes that the function ¢(¢, §) satisfies a « con- 
dition of regularity » over time, but this condition is formulated from a 
social, and not an economic. point of view. 
Allais - pag. o,