SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 
However, we may notice that we can no longer stop our ana- 
lysis at this point in the present model. The fulfilment of 
macro-economic relation (V.11) is now no longer independent 
of time and of the structural dynamics which is going on 
behind all coefficients. 
2. Relevance of a disaggregated formulation 
We may now begin to assess the relevance of the disaggreg- 
ated type of analysis which has been developed in the previous 
sages. Condition (V.11) — as said above — states an important 
macro-economic conclusion, which is the same that has emerged 
from all macro-dynamic models. But this conclusion now emer- 
ges as expressing only what appears on the surface of the whole 
problem of a dynamic equilibrium. Relation (V.11) also implies 
that — just in order that it may be satisfied as an overall con- 
ition — a very complex process of structural change must 
70 on behind all the macro-economic magnitudes. This struc- 
tural process is in fact what technical progress means in a 
modern society. 
We may note that to have shown the existence, and now 
lo make possible the analysis, of this process of structural dy- 
namics is one of the main innovations of the model developed 
in this chapter. The two simpler models, discussed in chap- 
ter III and in the first part of chapter IV, could not deal with 
these problems at all. As the reader will remember, both 
‘he capital accumulation conditions and the effective demand 
condition, in those models, have been assumed to be inde- 
pendent of time and of the stage of development the system has 
reached, so that — once defined at a certain point of time — 
they remained the same for all the time. This meant giving 
up the possibility of investigating any type of structural dyna- 
mics, and at the same time it meant frustrating the purpose 
‘tself of a disaggregated formulation. 
10] Pusinetti - pag. 81