ECONOMIC DEVELOPMENT AND COMPETITIVE PLANNING: THE MAURICE ALLAIS LEGACY

Abstract

aurice Allais, renowned for his Nobel Prize-winning contributions to economics, penned "Abondance ou Misère" (Abundancy or Misery, 1946) in the post-World War II era. While less celebrated than his other notable works, this piece plays a pivotal role in grasping his intellectual journey and the prevailing economic thought of his time. Allais, along with economists of his era, sought to explore an alternative path that diverged from both unfettered market competition and central planning.

In "Abondance ou Misère," Allais confronted the doctrine of authoritarian planning, defined as any ideology advocating complete central authority over economic operations. Simultaneously, he reaffirmed the principles and virtues of economic liberalism, a philosophy that had weathered criticism during the interwar period.

This work is situated within the context of a broader intellectual landscape, where economic liberalism faced ideological and empirical challenges. Influential thinkers like Louis Rougier and Jacques Rueff spearheaded what François Denord dubbed "the offensive of neo-liberalism." Notably, a seminal symposium on liberalism convened in 1938, featuring luminaries such as Friedrich von Hayek and Ludwig von Mises. Although Allais did not participate, his engagement with this milieu, including texts like Walter Lippman's "The Principles of the Good Society," significantly shaped his later work.

Understanding the significance of "Abondance ou Misère" illuminates the evolution of economic thought during a critical juncture in history.