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

1220 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 2% output models it is known that they can be stochasticized in accor- dance with this principle (see my report to the Tokyo session 1060 of the International Statistical Institute). LEONTIEF In order to understand somewhat better the implications of Pro- fessor FrRiSCH’s practical proposals, I would like to ask whether there would be an objection against allowing people to trade goods and services among themselves at what one might call black market pri- ces. In principle at least, the difference between these and the official shadow prices would reflect the discrepancy between the actual shapes of preference function of consumers and their official estimates prepared by the planning authority. FRISCH I have about ten pages of notes that I have taken during the discussion. I will try my best to do justice to everybody, but you will understand that this is a very difficult task in view of the long discussion and the complicated points at issue. One of the Prof. Arrais points was that we are discussing the econometrics of the future and in this connection he said that econo- metrics should be neutral. Everything, of course, hinges upon what is meant by neutral. You know that for centuries there has been a tendency to define neutrality in economics by saying that any ana- lysis which takes the free market system as an axiom, is « neutral », but any analysis that has the audacity of questioning the free market system is not « neutral », but « political » and should therefore not be allowed to enter into the ivory tower of the scientist. This has been the situation in economics for a couple of hundred years but this is not the situation any more. Today we have to recognise the fact that there are also other economic system that are « in the air » and must be discussed by us as social engineers. I must add that not only 17] Frisch - pag. 24

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