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

SEMAINE D ETUDE SUR LE ROLE DE L ANALYSE ECONOMETRIOUE ETC. 20C respect for the person, the rights of the majority, or the rights of the minority? Whatever the solution to this fundamental problem may se, 1 do not see it in FRISCH’s paper. In any case, majority rule cannot give a valid and acceptable answer to every question. What exactly is social justice? To speak about social justice is quite appealing in public discussion. Everyone is for social justice. But my own experience has convinced me that social justice is accepted by different people in very different ways, and as far as [ can judge, evoryone accepts what is in his interest as just, but considers anything contrary to his interest as unjust. Reality, unfor- -unately, is such we must appreciate that there is no objective con- cept of «social justice » at all, but only the conflicting interests of millions of people. My convinction is that FRISCH’s paper oversimplifies very com- plicated and complex questions and that it is only in this way that 1e can justify the central planning procedure proposed by him. But as he said himself at the beginning of his paper, simplicity can be questioned, and to simplify problems is not to solve them. 7) In FriscH’s paper, everything is derived from the consider ation of a single preference function only. But as I have already said, we cannot consider only one preference function. And if we agree that in parallel with the social preference function we must ‘ake individual preferences into account in some way, then there is 10 longer a single preference function, but ten million, a hundred million, and, for the world, three billion preference functions, and ‘rom this point of view I cannot see at all how FRISCH’s paper could work in reality. The question is much more complex, much more difficult. We econometricians must recognize that it is impossible to reduce the whole problem of social organization to a problem of central planning. In fact and in my opinion, only a decentralized organisation in an appropriate framework taking parallel account of a market econo- my and some central decision making by the government in its own sphere can provide a correct solution to this very complex problem "17] Frisch - pag. 13

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