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Ragnar Frisch: Econometrics and the Political Economy of Planning

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  • Frank Long

Abstract

. Ragnar Frisch's main contributions are in the field of econometrics. This paper discusses Frisch's contribution to the political economy of planning. It argues that although planning was not a special feature of classical political economy, Frisch nonetheless shared in the broader social and moral aspirations of political economy; for Frisch, these were the ultimate objectives of planning. To this end the paper discusses Frisch's approach to the formalization of society's preferences. This approach involves an interactive mechanism in which politicians and technical experts participate. Against the political economy aspirations of Frisch, some behavioral shortcomings of his framework are briefly discussed.

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  • Frank Long, 1979. "Ragnar Frisch: Econometrics and the Political Economy of Planning," American Journal of Economics and Sociology, Wiley Blackwell, vol. 38(2), pages 141-153, April.
    • Handle: RePEc:bla:ajecsc:v:38:y:1979:i:2:p:141-153
    DOI: 10.1111/j.1536-7150.1979.tb02872.x
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