ABSTRACT

The Nature of the Economy As we saw in the opening chapter, the primary technical require­ ment for macroeconom ic planning is an understanding of the nature and the functioning o f the econom ic system with which we are concerned. In practice, this will involve three lines o f inquiry: (1) The identification o f the variables within the econom y, for

example, aggregate consumption, investment in coal mining, taxation on electrical goods, and so forth.