The book has 36 essays that range from conceptual topics to down to
earth experiences. Divided into seven sections, the essays are on topics like
Development Economics in retrospect viz.
Inequality and Conflict,
Human Development and
Well being, Globalisation, Development
Finance,
Growth and Poverty, Development Strategies and Development Economics
in prospect. Over the years the definition of development has moved from GNP
growth as objective to growth and employment, satisfaction of basic needs and
finally to enhancement of human welfare and reduction of multidimensional
Poverty to be achieved through a pro-poor growth. The development theory also
moved from single sector model to pluralistic models separately taking into
account the and the rural and the urban sectors, distributional issues, poverty
evaluation, structural issues and markets
in development process. The book, while recognising the factor of chance,
advocates heading off disasters before they occur. Today in India the
parameters for measuring and stimulating development process are markets,
globalisation, incentives and private sector. India’s experience shows that human
development does not naturally accompany economic development and government
has to take special measures. Therefore social indication is also added to the
list of the above parameters.
One essay argues that some inequalities are by laws of property and
economic relationships, land ownership deriving from colonial times and
international law. The essay also suggests methods to reduce these
inequalities. Another essay points to botched liberalisation and regressive tax
reforms in certain developing and transient economies that have affected
quality and equality of health. A link is also traced between inequality and
corruption. The essays argue for investing in health for economic development.
Experiences from different countries show that there is much room for
improvement both in efficiency and equality. The effect of aid on development
is shown to be positive. The book’s coverage is vast.
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