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The Discussion on Professor Perroux’S Paper

In: Stability and Progress in the World Economy

Author

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  • Douglas Hague

Abstract

Professor J. R. Hicks (U.K.) was the first to comment. He said: I shall not be able to take up more than one of the ideas that Professor Perroux has been putting before us in his eloquent paper; it is the idea that a policy of balanced growth is something different from an anti-cyclical policy. If one underlines the word policy, there is nothing in this with which one can disagree. For governments to take responsibility for the trend of economic progress is undoubtedly something different from the mere taking of responsibility for correcting deviations from the trend. But in the substance of his paper, if not in the thesis which he proclaimed, I felt that Professor Perroux went farther. He seemed to be saying that if we look to balanced growth, we shall automatically avoid fluctuation. If that is what he is saying, I think that at that point I part company.

Suggested Citation

  • Douglas Hague, 1958. "The Discussion on Professor Perroux’S Paper," International Economic Association Series, in: Douglas Hague (ed.), Stability and Progress in the World Economy, pages 127-147, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-08446-3_7
    DOI: 10.1007/978-1-349-08446-3_7
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