chapter  III
6 Pages

Identity, Technological and Behavioural Relations

The formal problem of the dynamic control of the economy can now be expressed as follows: (i) given the interrelationships between the variables represented in Figures 3 and 4, (ii) given a forecast of the possible future courses of the environmental events, and (iii) given some principles upon which to base a judgment as to whether one particular development of the economy is to be held better or worse than another, we have to choose that pattern for the controls which will result in the socially most-preferred development of the economy.