Theoretical Economics Letters

Volume 10, Issue 2 (April 2020)

ISSN Print: 2162-2078   ISSN Online: 2162-2086

Google-based Impact Factor: 0.82  Citations  

The Contribution of Maurice Allais to Contemporary Macroeconomics: From French Planning to National Accounting

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DOI: 10.4236/tel.2020.102023    147 Downloads   249 Views  
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ABSTRACT

__kindeditor_temp_url__If the history of macroeconomics is still largely associated with John Maynard Keynes’ masterpiece, The General Theory of Employment, Interest and Money (Keynes, 1936), macronomics also includes a branch of economics which has gained recognition through the use of mathematical models, the notion of general equilibrium, the development of an empirical basis (applied economics), and the evaluation of the effects of economic policy. These elements of macroeconomic theory are found in Maurice Allais’ work, mainly his Théorie du rendement social (Allais, 1946) and his Fondements comptables de la macroéconomie (Allais, 1954). In the aftermath of the Second World War, Allais was able to use a corpus composed of a theory—the Walrasian General Equilibrium, a doctrinecompetitive planning, an empirical basis—his work on national accounting and economic policy prescriptions, “la planification à la francaise” and monetary dynamics. This work, combined with the development of national statistics and national accounting, highlights the French tradition of economic thinking and reminds us, that in the history of economic thought, the Keynesian precepts took some time to “colonize” the minds of French economists.

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Diemer, A. (2020) The Contribution of Maurice Allais to Contemporary Macroeconomics: From French Planning to National Accounting. Theoretical Economics Letters, 10, 334-355. doi: 10.4236/tel.2020.102023.

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