Ten years ago, in August 1963, the Federal Republic of Germany set up a Council of Experts on Economic Development. The author - a former member of the Council - makes a resumé of the ten years' experience and the problems connected with the Council.

This paper is an attempt to bring the two sides together. It will demonstrate, on the, one hand, - that internal and external liberalisation of trade in goods and services does substantially raise potential output and its growth path and - that it, therefore, pays to anticipate these gains in...