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Closing Remarks

In: Planning and Market Relations

Author

Listed:
  • Michael Kaser

    (St Antony’s College)

Abstract

The clearest conclusion that this Conference has reached is that the market mechanism has not solved social problems and externalities, though it admitted a rather wide divergence of view on whether they can be corrected by price adaptations or by planning. At the other extreme all insisted on the value and actual application of micro-planning. The large corporation was given precedence in our discussions, but any enterprise was expected to undertake some forward arrangement of its affairs. The Conference touched upon, but did not much develop, the problem that the risk and uncertainty for small businessmen is greater than for a big firm, perhaps because the previous I.E.A. Conference in Czechoslovakia had already drawn enough conclusions in the volume Risk and Uncertainty already published.

Suggested Citation

  • Michael Kaser, 1971. "Closing Remarks," International Economic Association Series, in: Michael Kaser & Richard Portes (ed.), Planning and Market Relations, chapter 13, pages 254-256, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15410-4_22
    DOI: 10.1007/978-1-349-15410-4_22
    as

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