4,366 works (including 487 books, 3,476 articles and 400 historical documents), 150 years of economic thought. Each one summarized and searchable.
How can economic planning accommodate uncertainty without surrendering the possibility of intervention? In this 1977 article, Guillermo L. Gómez M. and Gerhard Tintner model development as a multivariate diffusion process, applying their framework to Colombian national accounts for 1950–1972. Their distinctive move is to make expected economic change responsive to changes in government expenditure and private investment, rather than merely extrapolating growth over time. Contrasting projections show how different assumptions about these instruments produce sharply different trajectories. Readers can examine the bridge between stochastic estimation and policy design—and the gap that remains between conditional forecasts and an achievable optimum. The authors outline, but do not complete, an optimal-control programme, making the article an explicitly provisional attempt to connect mathematical uncertainty with deliberate development policy.
A wage increase cannot be assessed through wages alone: its effects on prices, employment, and production depend on the accompanying policy choices. In this 1977 article, Guillermo L. Gómez M. and Gerhard Tintner build an aggregate model of Colombia that combines Keynesian consumption relationships with neoclassical production and labor demand. Their estimates make the case for coordinating investment, public expenditure, and trade policy rather than treating economic targets separately. Yet the practical ambition encounters unreliable data, restrictive assumptions, and the unresolved choice of a welfare objective. Readers can examine both the numerical trade-offs the authors identify and their refusal to turn modeled wage effects into a mechanical recommendation for wage freezes—a concrete encounter between econometric calculation and political feasibility.