All this becomes familiar story, when put in terms of money-wages and prices. An under-developed economy with a reserve of unemployed embarks on a process of planned investment. Additional employment is created in the investment goods sector. ..
All this when the matter is looked at in the aggregate; when, that is to say, reference is made to what is called the ‘general price level’. What happens to ‘relative prices’ ? In our anxiety to bring out the broad effe..
I have stated this theory of price variations rather elaborately because it appears to me that certain features of our present situation fit it very closely and I suspect that not enough attention has been given to this aspect of the matter. I..
Let me state a theory of price variations in the context of an economy having a process of planned economic development. Assume, first, that the additional investment, both in the public sector and in the private sector, is matched entirely by..
The process of economic development in South-East Asian countries with different political, social and economic characteristics have been the subject of continuous evaluation. The newly independent countries took a general view of socio-econom..