216 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 25
are very effective in the long run as conveyors of information and of
incentives, but that in the short run a good deal of quantity infor-
mation goes back and forth between suppliers and demanders in all
markets. My question to Professor FriscH is whether in his bleuprint
for the operation of a planning system he does not need also to
provide for circulation of quantity information at all levels, or
whether he thinks prices alone will be sufficient.
VMAHALANOBIS
I should like to make a few observations at two levels from the
point of view of a country like India. First, I share the doubt
expressed by Dr. Koopmans whether a political leader or an admi-
nistrator or someone who is responsible for decision-making would be
able to understand the implications of econometric choices. Secondly,
even if he does understand some thing at a technical level, whether
he would be able to influence the political or social decisions in
accordance with econometric consideration. And thirdly, whether
such a leader would not make mistakes which would have their own
consequences.
I believe there is a good deal of validity in the doubt to which
Professor Koopmans has given expression. I have myself continually
faced the type of question asked not only by Professor FRISCH when
he was in India several years ago, but also continually since then
in connexion with planning. Even when somebody would like, would
have felt it advisable, to make a decision one way, he might have
to remain silent because of uncertainties of the political consequences.
This is a serious difficulty. I am speaking from experience. This is,
however, only one level.
At another level, I should very warmly welcome the outlook of
Professor FRISCH because I believe this would be of great educative
value. I welcome this imaginative approach, not because I think a
push-button type of dcision can be achieved immediately or even in
a few years but because I believe his outlook and his approach can
be very important factors in an educative process, at the decision-
17] Frisch - pag. 20
