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'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIOUE ETC. This does not mean that political science is without interest but t does mean that we economists must remain very cautious about what the interest of the community, social justice and so on really are. Excuse me for having been so long and thank you. DORFMAN I do not wish to enter into the important and heated discussion detween Professor FRISCH and Professor ALLAIS on the role and propriety of social planning, but merely to point out the relationship petween Professor FRISCH’s paper and my own in two respects. However one feels about social planning, one must concede that political decisions that influence the development of an economy have io be made. For this purpose one needs some criterion for judging whether social effects are good, or moderately good, or bad and this s what Professor FRISCH’s capital F function does. One must have something of this sort or no social decisions can be made on any rational basis. [ do not believe that this social preference function can be ascer tained, however, by the method that Professor Frisch proposes, namely by artfully constructed interviews designed to disclose how people evaluate various possible states of their societies. In general, people do not know how they will make an important decision until ‘hey are confronted with it, and they cannot tell you. Therefore ] proposed that we attempt to determine social welfare functions by inspecting how people have decided in the past rather than by asking them how they would decide in the future. My purpose, however, was the same as FRISCH’s: to determine a scale of social values. There is another significant divergence between us. Professor FRISCH distinguishes sharply between the problems of selection and implementation. But I do not feel that this distinction can be maintained. The preference ordering of two economic policies de- pends not only on their consequences in terms of rate of economic growth, per capita income, level of employment, and so on, but also on the implementation side of the policies themselves, for example [17] Frisch - pag. 17

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