SELECTION AND IMPLEMENTATION
THE ECONOMETRICS OF THE FUTURE

RAGNAR qFRISCH
Tniversitetet à Oslo - Sosialakonomisk Institutt - Oslo - Norge

What I am going to present to you today is in all humility
a frontal attack on a ghost that has been haunting all of us for
the last generations, whether we want to be classified as belonging
 to the West or to the East or to the uncommitted countries,
 which, with a few exceptions, are the countries in Afro-Asia
 and partly in Latin-America that are now striving towards
rapid economic and social development.
I can do nothing better than to begin by quoting the introductory
 part of the program of this Study Week. And, inci
dentally, this introduction is a significant indication of the profound
 understanding of the basic problem of our times which
the organizers of this Study Week, with the blessing of His
Holiness the Pope, have had. The introduction begins with
‘hese words, and I quote:
« Modern economies are extremely complex and both theory
and practice show that the free play of individual choice does
not guarantee, as used to be thought, favourable results for the
community.
Once this is admitted it is obviously necessary to provide
suitable informative and control instrument and fix the targets
which the economy is aiming at ».

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