The propositions of Keynes’s General Theory are by now well known. I would, however, restate them in a slightly different order, placing emphasis on certain ingredients and bringing out one or two implicit assumptions which are relevant ..
Now, one who is acquainted with the conditions of an underdeveloped economy, with the earnings of the majority of the working population practically below the minimum subsistence level, will find it hard to see how the prevailing real wage in ..
Perhaps no matter is more significant today to a student of international economics than the state of unbalance in the level of economic development and the rate of economic growth in the different countries of the world. Particular imbalances..
Over the last two hundred years or so the world has witnessed tremendous progress in science and technology and a tremendous increase in productive capacity. Man’s inventive genius has shown remarkable resilience in meeting the challenge..
These are disturbing revelations. And yet there is nothing in it that is surprising. Division of the world into ‘nations’ has been the result of a series of historical accidents rather than of set design. And in so far as there is ..
The analysis, however, overlooks certain vital elements in the chain of causation, in particular the relative bargaining strength of the poorer countries and the relation of terms of trade to the supply of resources and to economies of product..
International economic inequality is not merely a moral problem; it is also a political problem. Considering how the spirit of nationalism has crippled our vision, it is not surprising that the problem did not so long come out very much in the..
What could be our approach to the problem ? There are those who lament the passing away of the age of liberalism, thinking that it is restrictionism in international trade that is responsible for the widening gulf between countries, that the r..
The considerations set out here concerning mobility of labour and capital are perfectly general, and are independent of whether the economies are capitalistic or socialistic. In its dealings with an under-developed country be they in respect o..
There has been some heart-searching in recent years concerning the manner in which Economics should be taught in universities the period over which teaching should be extended, the courses that it should cover, the level at which it should be ..