ABSTRACT
But in an ex ante analysis, at least after Hammarskj~ld's contribution (cp. sect. VII:2), the adjustment of plans would signify that it is a new period.
Therefore, we may conclude that in 1933-1934 Ohlin had not yet understood the advantage of an ex ante analysis for both theoretical and practical purposes. Thus, he can reject it solely on practical grounds. It is only in his article for the Economic Journal of 1937 that it is evident that he has accepted the existence of plans based on expectations concerning the future where the plans spell out the actions to be undertaken (cp. Ohlin 1937A, pp.61-62). Incidentally, much later Ohlin gives one of the best accounts why the concept of plan has to be precise in a theoretical analysis:
"Many may feel that all this talk in quantitatively precise terms of 'planned savings' and 'planned investment' and so on is rather artificial. In the theory it is necessary to assume a certain quantitative precision instead of vague ideas. Otherwise, a theoretical tool of great practical usefulness would not be at our disposal" (Ohlin 1949, p.ll7).
