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TitleThe Economics of Development and Planning (40th ed.)
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Table of Contents
                            The Economics of Development and Planning 40e
Preface to the 40th Edition
Preface to the First Editon
Brief Contents
Part One – Basic Problems
	Chapter-1 Economics of Development : Concepts and Approaches
	Chapter-2 Economic Growth and Income Distribution : The Kuznets Hypothesis
	Chapter-3 Sustainable Development
	Chapter-4 Characteristics of An Underdeveloped Country
	Chapter-5 Obstacles to Economic Development
	Chapter-6 Factors of Economic Growth: Economic and Non-Economic
	Chapter-7 Chenery’s Patterns of Structural Change
	Chapter-8 Meaning and Characteristics of Modern Economic Growth
Part Two – Some Theories Of Economic Development
	Chapter-9 Adam Smith’s Theory
	Chapter-10 The Ricardian Theory
	Chapter-11 The Malthusian Theory
	Chapter-12 Mill’s Theory
	Chapter-13 The Classical Theory
	Chapter-14 The Marxian Theory
	Chapter-15 The Schumpeterian Theory
	Chapter-16 The Keynesian Theory
	Chapter-17 Marx’ Stages of Growth
	Chapter-18 Rostow’s Stages of Economic Growth
	Chapter-19 Gerchenkron’s Great Spurt Theory
	Chapter-20 Nurkse’s Theory of Disguised Unemployment as a Saving Potential
	Chapter-21 Lewis Theory of Unlimited Supplies of labour
	Chapter-22 Fei-Ranis Theory
	Chapter-23 Jorgenson’s Neo-Classical Model of a Dual Economy
	Chapter-24 Harris-Todaro Model of Migration and Unemployment
	Chapter-25 Leibenstein’s Critical Minimum Effort Thesis
	Chapter-26 Nelson’s Low-Level Equilibrium Trap
	Chapter-27 The “Big Push” Theory
	Chapter-28 The Doctrine of Balanced Growth
	Chapter-29 The Concept of Unbalanced Growth
	Chapter-30 Dualistic Theories
	Chapter-31 The Dependency Theory of Underdevelopment
	Chapter-32 The Limits to Growth Model
	Chapter-33 Myrdal’s Theory of Circular Causation
Part Three – Some Growth Models
	Chapter-34 The Harrod-Domar Models
	Chapter-35 The Kaldor Model of Distribution
	Chapter-36 The Pasinetti Model of Profit and Growth
	Chapter-37 Joan Robinson’s Model of Capital Accumulation
	Chapter-38 Meade’s Neo-Classical Model of Economic Growth
	Chapter-39 The Solow Model of Long-Run Growth
	Chapter-40 Kaldor’s Model of Growth
	Chapter-41 The Models of Technical Change
	Chapter-42 The Uzawa Two-Sector Growth Model
	Chapter-43 The von Neumann Growth Model
	Chapter-44 Steady State Growth
	Chapter-45 The Golden Rule of Accumulation
	Chapter-46 Growth Accounting
	Chapter-47 The New Endogenous Growth Theory
	Chapter-48 The Cambridge Capital Controversy in The Neo-classical Analysis of Growth
	Chapter-49 The Fel’dman Model
	Chapter-50 The Mahalanobis Model
Part Four – Domestic Measures For Economic Development
	Chapter-51 Capital Formation and Economic Development
	Chapter-52 Role of Agriculture and Industry in Economic Development
	Chapter-53 Monetary Policy in Economic Development
	Chapter-54 Fiscal Policy in Economic Development
	Chapter-55 Deicit Financing as an Instrument of Economic Development
	Chapter-56 Price Policy in Economic Development
	Chapter-57 Population Growth and Economic Development
	Chapter-58 Human Capital Formation and Manpower
	Chapter-59 Entrepreneurship in Economic Development
	Chapter-60 Role of the State in Economic Development
Part Five – International Measures For Economic Development
	Chapter-61 Foreign Trade and Economic Development
	Chapter-62 The Debt Problem of LDCs
	Chapter-63 New International Economic order (NIEO)
	Chapter-64 Commercial Policy and Economic Development
	Chapter-65 WTO and Developing Countries
	Chapter-66 Foreign Capital and Aid in Economic Development
	Chapter-67 Two-Gap Model and Costs-Benefits of Foreign Aid
	Chapter-68 Private Foreign Investment and Multinationals
	Chapter-69 Economic Integration Among Development Countries
	Chapter-70 Millennium Development Goals (MDGs)
Part Six – Some Problems Of Development Planning
	Chapter-71 Economic Planning
	Chapter-72 Shadow Prices
	Chapter-73 Project Evaluation and Cost-Benefit Analysis
	Chapter-74 Controls under Planning
	Chapter-75 Input-Output Analysis
	Chapter-76 Linear Programming
	Chapter-77 The Concept of Capital-Output Ratio
	Chapter-78 The Choice of Techniques
	Chapter-79 Transfer of Technology
	Chapter-80 Investment Criteria in Economic Development
	Chapter-81 Economic Planning and Price Mechanism
Document Text Contents
Page 529

because the model ignores completely the given slock of capital at the
beginning of time .

5. The assumption that every commodity enters every production process
either as an input or as an output, is unacceptable in practice. How can ice-
cream be used as one of its inputs or outputs? The question is absurd.

On these counts, Koopmans characterises this model as “poor economics.”

Page 530


Steady State Growth


The concept of steady state growth is the counterpart of long-run equilibrium
in static theory. It is consistent with the concept of equilibrium growth. In steady
state growth all variables, such as output, population, capital stock, saving,
investment, and technical progress, either grow at constant exponential rate, or
are constant.

Taking different variables, some of the neo-classical economists have given
their interpretations to the concept of steady state growth. To begin with
Harrod, an economy is in a state of steady growth when Gw=Gn. Joan
Robinson described the conditions of steady state growth as Golden Age of
accumulation thus indicating a “mythical state of affairs not likely to obtain in
any actual economy.” But it is a situation of stationary equilibrium. According
to Meade, in a state of steady growth, the growth rate of total income and the
growth rate of income per head are constant with population growing at a
constant proportionate rate, with no change in the rate of technical progress.
Solow in his model demonstrates steady growth paths as determined by an
expanding labour force and technical progress.

Page 1057

Rostow, W.W., The Process of Economic Growth.
Rov, H.N., The Role of Monetary Policy in Economic Development.
Sachs Ignacy, Foreign Trade and Economic Development in Underdeveloped
Sandee, J., A Demonstration Planning Model for India.
Schumpeter, J.A., Business Cycles.
————, The Theory of Economic Development.
————, Capitalism, Socialism and Democracy.
————, Ten Great Economists.

Sethi, J.D., Problems of Monetary Policy in an Underdeveloped Country.
Sen, A.K., Choice of Techniques.
————, (ed.), Growth Economics.*

Singer, H.W., Economic Progress in Underdeveloped Countries.
Singh, H.K.M., Demand Theory & Economic Calculation in a Mixed Economy.
Sinha, M.R., (ed.), A Decade of Economic Development and Planning in India.
Shannon, L.W., (ed.), Underdeveloped Areas.
Shenoy, B.R., Indian Planning and Economic Development.
Smith, Adam., An Enquiry into the Nature and Causes of the Wealth of Nations.
Staley, E., The Future of Underdeveloped Countries.
Tandon, B.C., (ed.)
Tinbergen, J., Development Planning.
Tripathy, R.N., Public Finance in Underdeveloped Countries.
Vakil, C.N., Poverty and Planning.
————, and Brahmanand, P.R., Planning for an Expanding Economy.

Villard, H.H., Economy Development.
Ward, Barbara, The Rich Nations and the Poor Nations.
————, The Plan Under Pressure.

*White, L.C., (ed.), The State of Social Sciences.
*William and Buttrick, (ed.), Economic Development—Principles and Patterns.
Zweig, F., The Planning of Free Societies.


Page 1058

Formulation Industrial Development Programmes.
Process and Problems of Industrialization in Underdeveloped Countries.
Reserve Bank of India Reports.
Taxes and Fiscal Policy in Underdeveloped Countries.
World Bank Annual Reports.
World Development Reports.
Human Development Reports.

Indian Economic Journal.
Indian Journal of Economics.
Indian Economic Review.
Business Line
Economic and Political Weekly.
Economic Times.
Financial Times.
Economic Review.
Far Eastern Economic Review.
American Economic Review.
Journal of Political Economy.
Manchester School.
Oxford Economic Papers.
Quarterly Journal of Economics.
Economic Journal.
The Economist
Fund and Bank Review—Finance and Development.
Reserve Bank of India Bulletin
RBI Annual Reports.
Industrialization and Poroductivity (UN).
Economic Bulletin for Asia and Far East.
IMF Staff Papers.

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