A Preliminary Input-Output Table for Large-Scale Industries in Pakistan

As an approach to economic problems, the input-output analysis is in the tradition of general equilibrium econcmics. However, it is a general equilibrium analysis with numerical strength. It is a general equilibrium theory because it analyzes all the industrial sectors of the economy simultaneously with special emphasis on the production relations among the industries. It is an approach with numerical strength because the basic formulation of the theory is amenable to statistical implementation in the econometric sense. Being such, this approach can be, and has been, applied to provide numerical answers to problems related to total econcmic mobilization of an economy, e.g., for war, for peace or for economic development. For this reason, it has a direct policy orientation; and, can be usefully applied to planning for economic development.