The paradox of development planning

Seymour S Goodman

Omega, 1974, vol. 2, issue 5, 625-634

Abstract: Economic planning has become the chief hope of developing countries for ultimately achieving parity with advanced countries in living standards and social progress. Yet, given the different degree of effective control over the economic environment that distinguishes advanced from developing countries, planning is apt to entail a low probability of failure only in the former, where it is less needed or desired. Magnitudes difficult to control in developing countries include agricultural output and export proceeds, yet are the most critical to the economic stability and initial advancement of these societies. Also seriously lacking are reliable and accurate sources of data on which development plans must be based. Acceptance of planning in low-income countries should be conditioned by an awareness that it will not close the development gap overnight and must incorporate broad tolerances with respect to targets.

Date: 1974
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