One of the distinctive features of an under-developed economy is the prevalence of what our economists are now in the habit of calling ‘disguised unemployment’. Too many people subsist on agriculture. Seemingly they are employed. B..
So far, so good. The emphasis on the implications of ‘disguised unemployment’ for the economics of growth is commendable. The proposition that employment is limited by the flow of wage-goods that can be made available to labourers,..
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. ..
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..