SEMAINE D ETUDE SUR LE ROLE DE L ANALYSE ECONOMETRIQUE ETC

DDL

amortisation period for

In other words, if we take the

condition

(420-2)

Thus Rey is maximised for 0: €
This means that of all growth processes, the most advan
tageous 1s that for which the rate of increase of primary incomes
IS zero.
This apparently paradoxical result is easily explained when
it is remembered that if population is increasing (and even supposing
 that natural resources increase at the same rate, which
they don’t), this growth implies that every year some proportion
 of gross national product must be allocated to maintain the
volume per capita of equipment and durable consumption goods
at the same level.
From the preceding relation, this diminution of consumable
production is equal in relative terms to

(420-3

ct

and we have for small values ot y

420-4,

r'6,

It further follows from relation (420-1) that a negative rate
of growth (population decline) would be advantageous. This
finding is valid so long as the assumptions, the consequence of
which is the constancy of (i ¢), remain valid. But these ass-{1:]

 Allais - pag. 189