IDEAS home Printed from
   My bibliography  Save this article

Planning Approach to Economic Policy Formation


  • Wassily Leontief


[fre] pas faire oublier l'importance de l'information de base sans laquelle les travaux de planification risqueraient de perdre toute consistance. [eng] Confronted with the rise in the price of oil and the increase in new competition, the « invisible hand » of automatic market mechanism will not suffice in reducing the economic maladjustments of the developed countries.. The concept of economic planning existed long before the technical capabilities to implement it became available : economic model building, development of computers, and above all the création of the requisite data bases now readily available. There is still considerable progress to be made in incorporating techni­cal information and social statistics.. The planner cannot take the place of the policy maker by defining a priori an ideal world by means of a collective social utility function. Nor should the functioning of the economy be considered to result from finding the solution to a complex more or less formal game. The construction of a plan is more a question of elaborating on a number of alternative scenarios, thereby allowing a better understanding of the économic aspirations of the various interest groups, and providing feasible alternatives among which the government can choose. In any case, the need to turn to sophisticated economic instruments should not make us forget the importance of the factual data base without which planning loses all coherency.

Suggested Citation

  • Wassily Leontief, 1980. "Planning Approach to Economic Policy Formation," Revue Économique, Programme National Persée, vol. 31(5), pages 820-825.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1980_num_31_5_408556

    Download full text from publisher

    File URL:
    Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:reveco:reco_0035-2764_1980_num_31_5_408556. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Equipe PERSEE). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.