IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Planning Approach to Economic Policy Formation

Listed author(s):
  • 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.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

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 look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 31 (1980)
Issue (Month): 5 ()
Pages: 820-825

in new window

Handle: RePEc:prs:reveco:reco_0035-2764_1980_num_31_5_408556
Contact details of provider: Web page:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

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)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.