396 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28

Naturally, this model proves nothing so far as the analysis
of the comparative productivity of the American and French
economies is concerned (!). It shows merely that a type of
reasoning which is generally considered as very attractive may
be completely false.

Analysis of the Difference in Productivity between the French
and American Economies

133. Equipment, as we have just seen, plays only an intermediate
 role in the analysis of productivity differences between
the American and French economies. If is the capitalistic
structure which it is important to study.
The capitalistic structure is represented by its characteristic
function

|$(z,06)

D't 6)dh

which describes the time distribution of the inputs of primary
income used in the past emerging in the consumed national
income of instant /. There is everv reason to believe that this

() I should particularly stress that in my opinion greater American
productivity cannot be explained by a higher aualitv of the labour force
‘herve. (See AILAIS. 1060 B. p. 33).

‘111 Allais - pag. 200