Economic Policy as an Instrument of Progress

Louis Duquesne de la Vinelle
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Louis Duquesne de la Vinelle: University of Louvain

Chapter 16 in Economic Progress, 1987, pp 313-326 from Palgrave Macmillan

Abstract: Abstract Whatever our precise idea of progress may be, or the criteria by which we distinguish real progress from apparent progress, or draw up a balance sheet of the advantages and disadvantages it involves, we may be certain that it is of the essence of progress that it takes place through transformations in the process of production. The latter involve in their turn technical developments, the initiative of entrepreneurs, occupational redistribution, mutations in the social organisation and sustained efforts of saving and investment, to mention only some of the essential ingredients. It seems, then, that economic policies constitute an instrument of economic progress to the extent that they contribute effectively to the harmonious realisation of the various components of this very complex phenomenon which we call economic progress.

Keywords: Economic Policy; Monetary Policy; Economic System; Marginal Productivity; Wage Level (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-08440-1_16

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