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:: Selection and implementation the econometrics of the future / Ragnar Frisch, Universitetet i Oslo - Sosialøkonomisk Institutt - Oslo- Norge

Collection:: Economics Books

1206 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - ZC 1) First, as I already stressed on the first day of this meeting, I think econometrics should remain neutral, i.e. we must avoid intro- ducing political views into our discussions. Personally, I would say that I am a neoliberal, but I think political views should remain outside the technical discussion of econometric problems. I do not accept at all that Prof. FRISCH’s paper can be regarded in any way as specifying the main lines of the future of econometrics. Econo- metrics is a very powerful tool of analysis but nothing more. In itself, it cannot determine what economic policy should be, but only analyze observations and derive, in a rigorous way, the consequences of specified hypotheses. Had Professor FriscH said in his paper: « I admit as hypotheses, first, that a competitive system cannot rea- lize the « high goals of rapid expansion, growth, and social justice, and second that these goals can be effectively realized in a central planned economy », I would not have said anything because from a scientific point of view, it is always possible and legitimate to make hypotheses and to discuss the results. But instead Professor Friscu has spoken of these two hypotheses as if they were well established ‘acts. Econometrics must remain limited to the discussion of technical questions. Certainly it is possible and admissible to discuss scienti- fically the consequences of hypothesis of a political nature, but it is necessary to avoid connecting them with political and ethical views and with value judgements. 2) Professor FriscH spoke of the « simplicity » of the competitive system but, I think, the same judgment can also be made on FRISCH’s proposals for realizing justice and rapid growth, looking for example at the first lines of § 5.1 (page 5). Taking FriscH’s paper as a whole, I would say that things are much more complex than his paper makes them out to be, and I think we must be very cautious about all the statements made. As an illustration of this complexity I will put forward for discussion some very important questions on which it is evident that it is impossible to follow the FrISCH conclusions, I do not say that FriscH’s ideals should be criticised. On the “171 Frisch - pag. 10

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