By W. Arthur Lewis
Constructing nations' economists and civil servants will locate no different instruction manual on their activity so readable and succinct"The Economist "probably the main invaluable publication which has ever been written to teach how a plan is made and what the coverage requisites are for its implementation"International Affairs Many books were released at the idea of financial improvement, yet little or no has seemed on how a improvement Plan is made, what the executive snags are and what distinguishes reliable making plans from undesirable. The emphasis through the publication is on coverage, even supposing the elemental thoughts for creating a Plan are illustrated. a lot info is tabulated for ease of interpreting.
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Additional resources for Development Planning (Routledge Library Editions-Economics, 5)
The Great Depression of the 1930’s, followed by the Second World War, did more to promote import substitution than any political change, since both these events emphasized the dangers of over-specialization and destroyed the ideological scheme (misuse of a static Law of Comparative Costs) on which the defence of over-specialization was based. Since the Second World War most countries have progressed rapidly along the path of import substitution, confining themselves, unfortunately, mainly 32 DEVELOPMENT PLANNING to manufactures, while tending to ignore raw materials and food.
5. Education is one of the more important benefits for which a firm may not be able to recoup its costs; education and economies of scale are the twin pillars of the infant industries argument. 6. Assessment of differences between real and money costs and differences between benefits and money receipts cannot be made precisely, and opens the door to arbitrary decisions; but cannot be avoided if resources are to be allocated to their most productive uses. INTERDEPENDENCE 27 2. FOREIGN TRADE Economic growth and foreign trade are intimately connected.
And where success depends on the simultaneous planning of a complex of interlocking projects, the development agency may have an important role as intermediary and co-ordinator. Besides, every Government is asked to support new enterprises in one way or another, by tax exemption, or priority licensing, or subsidy or the building of ancillary public services; and it cannot make these decisions without making its own assessment of how much the enterprise will contribute to the economy, both directly and indirectly.