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:: Econometric analysis for assessing the efficacy of public investment / R. Dorman, Harvard University - Cambridge, Mass. - U.S.A.

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 209 somehow or other to foresee plans and responses of the administra tors of other sectors of the same economy. Any genuine economy is too large and intricate to be globally planned and globally directed from one center. I think in fact that it may be easier for a project planner to predict the consequences of his plans in a competitive context, such as is afforded by a mixed economy, than to do sc where the sectors over which he has no control are other depart ments of a centralized economy. The problems of economic coor dination are always severe, collectivization does not obliterate or solve these problems rather it places them candidly on the doorstep of the planners and deprives them of the assistance of decentralized. on-the-spot, decision makers. MAHALANOBIS On the last comment of Professor DORFMAN I should like to say that in a centrally-planned economy you could approximate the competitive equilibrium probably better than you can in a capitalistic economy with many monopolies. In saying this, I am not expres- sing any political views. I just want to stress my first point about the difficulty which you may face in a private or free economy because it is really not competitive. I agree that if a private or free economy is fully competitive then it has its advantages. I also agree that there are some difficulties for a centrally-planned economy to realize something which would be similar to a good state of com- petitive equilibrium. It is the question of imperfection of competi tion which is of concern to me DORFMAN I think that we now understand each other fully The effective- ness of economic coordination in a mixed economy certainly does depend on the extent of the distortions introduced by monopolies Dorfman - pag. 23

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