Study week on the econometric approach to development planning

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: The analysis of economic systems / Richard Stone, Cambridge University - Cambridge - Great Britain

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 2) builder; and there must be a conscious effort to supplement the market mechanism by calculating costs and prices for acti- vities which lie outside the market economy or which have important aspects which the market does not value. LLNS A plan tells us how to set about achieving our policies given the operating characteristics of the system. It can be identified with administration or control. These words can in turn be identified either with coercion, exemplified by the policeman, or with a means of self-regulation, exemplified by the Watts governor or the thermostat. The opposite of plan is no-plan. or anarchy. In theory laissez faire is not an example of no-plan; it is a perfectly coherent plan for operating an economic system. Îts strength lies in the fact that it is self-regulating. This is achieved by placing decisions in a large number of centres 2ach of which is intent on maximising its advantage. An examination of biological and ecological systems suggests that ‘hey owe their robustness to similar forms of control: the pre- lator-prey relationship cannot be understood by identifying ‘he predator with a policeman. The fundamental objective to laissez faire as a form of planning is that it works with limited values and limited information: the values of the market place and the information provided by current prices and by the orices on a small number of forward markets. The reaction to laissez faire has taken two forms: central planning and government intervention in specific aspects of >conomic life. The first reaction has the merit that it places the determi- nation of policies squarely where this belongs, in the class of political decisions. Its shortcomings which derive largely from its political origins. lie in an exaggerated notion of the pos- Stone - pag. 23

Access restriction

Copyright

fullscreen: Study week on the econometric approach to development planning

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation