Die Wirtschaft der deutschen Gaswerke

Study week on the econometric approach to development planning

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Monograph

Identifikator:: 885228553

URN:: urn:nbn:de:zbw-retromon-5127

Document type:: Monograph

Author:: Greineder, Friedrich

Title:: Die Wirtschaft der deutschen Gaswerke

Place of publication:: München [u.a.]

Publisher:: R. Oldenbourg

Year of publication:: 1914

Scope:: 1 Online-Ressource (60 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: I. Allgemeines

Collection:: Economics Books

1210 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 Only in totalitarian societies can the problem of social and eco- nomic organisation be reduced to the formulation of a preference function. 8) Professor FRISCH has said that there are two things which are different, and which require to be treated separately. The first is what he called the selection problem, and the second the implemen- tation problem. In my opinion, this is absolutely impossible. I am an engineer, and I can give you a very good example of such an ‘mpossibility. In coal mines we don’t know at all what the product- ion functions are exactly. No engineer exists who can specify what the production function is in a concrete situation. What engineers do is to choose between different projects in comparing their discounted net present value (in french: leur valeur nette actualisée). And for this purpose they use a system of prices which only a market economy functioning in an appropriate framework can provide. Thus it is impossible to separate selection and implementation. From this point of view, I cannot see at all how the FRISCH system could work. We don’t know the production functions, and correct decisions can- not only be taken in a decentralised system with the help of an ap- propriate price system. 9) And again, what should be considered as desirable growth? Growth of population, growth of efficiency — is growth really de- sirable? Some people prefer stability to growth. Personally, I am for efficiency, but that is a personal and subjective view. Other people may prefer the stability of their jobs; they can definitely prefer sta- bility to efficiency. In fact, growth is not such an unquestionable goal as Professor FRISCH was suggesting at the beginning of his exposé. For me what seems in fact desirable is not growth but simply people’s happiness. 10) Professor FriscH has suggested that the centralized econo- mies have grown faster than the market economies. In fact, at the least this statement is open to question and personally I think that it does not conform to the real facts ‘17] Frisch - pag. 14

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