Memorial to Léon H. Dupriez
Université catholique de Louvain
(Belgium)
Memorial to Léon H. Dupriez
Université catholique de Louvain
(Belgium)
"Beyond the merely economic
criteria of functionality [for example: price = marginal cost and so on…]
several other criteria must be taken into account. In particular, the requirements
for long term efficiency i.e. for structural changes, should be noted.
Furthermore, other criteria provide an insight into the appropriateness
of the distribution of income as well as into the acceptable behaviour
of economic agents conformably to the moral value of their aims. These
criteria compel societies to limit their “an-archic” game [without authorities’
intervention] in which the only criterium remains the functionality of
the economy, manipulated by merely individual agents. This results
that societies are partly liberal, partly socialist. Nevertheless,
these societies value a liberty upon which are imposed certain limits.
Any advances need to be insured and, at the same time, certain social needs
have to be met by institutions. In short, morality has to be insured upon
economic relations…”
"Our judgement
of these objectives does not affect the value of freedom. However, it is
a concrete field where the money will be active within the conflict often
born between the functionality of the economic system and the other criteria.
If the other criteria are carrying out through the distribution of income
and money, the system works smoothly. This is because under the new conditions
of distribution, there is a balance between economic functionality and
the other criteria. On the contrary, if the other criteria are enforced
by way of constraints or prohibitions concerning the use of currency or
goods or services, conflicts will be born which would render the system
dysfunctional. This opposition would leave no possibility for a solution.
Many governments have learnt this the hard way."
| < The sixth pillar of Dupriez’s Epistemology according to himself |
Displayed on October 13th,
2001
page : Université
catholique de Louvain|
ECON
Dept |
IRES Center
for Economic Research