WELFARE ECONOMICS

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WELFARE ECONOMICS Economic and Non Economic or General Welfare A distinction may be drawn between economic   welfare and general welfare. An   individual’s  welfare may relate to his physical well being, spiritual well being or   economic well being The concept  of welfare according to Robbins embraces   any states of mind some of a merely sensual some […]

Deficit Financing

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Deficit Financing We have devoted a full chapter to deficit financing.’ Deficit financing, i.e.. newly created money, is another source of capital formation in a developing economy. The danger, inherent in this source of development finance, is that it may lead to inflationary pressures in the economy. But a certain measure (If deficit financing can be had without creating such pressures. As […]

Conclusion

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Conclusion The foregoing discussion lead us to the conclusion  that the balanced growth   concoct i neither attainable nor desirable On the other hand for rapid  economic development the under countries  should rely largely on judiciously and   unbalanced  growth In fact Soviet Russia and India have been  following this   course Get Any Economics Assignment […]

Louisianan’s Doctrine of Planned Unbalanced Growth

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Louisianan’s Doctrine of Planned Unbalanced Growth Professor Albert Sir human in his book Strategy  of Economic Development  aeries  singer’s idea further and contend   deliberate unbalancing of economy in  accordant e it a predetermined strategy  is the be t way to achieve economic   growth. Like Singer, he argue that balanced growth theory  requires chug amount of   re […]

Profits of Public Undertakings

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Profits of Public Undertakings In a developing economy, where the scope of the public sector has been progressively expanding in the industrial. financial and commercial spheres, it is desirable that a large amount of resources should be generated and billion,.ed in this sector  of the price policy of the public undertaking should give place to a policy of reasonable profits  the […]

Foreign Capital

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Foreign Capital The importance of aurei  capital in accelerating economic development is undoubted. But which are the main sources of foreign capital? In the 19th and the early 20th centuries, most of the foreign capital which went to develop the resources of the developing countries was private capital investment either of the equity type or the portfolio variety. In more recent times. […]

Singer’s Critique of Balanced Growth Doctrine

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Singer’s Critique of Balanced Growth Doctrine Prof. Hans Singer and Alberto Kirsch n eminent  American economists, have   criticized Ur C doctrine of balanced growth. They contend that what is  needed is  to lanced growth but a strategy of judiciously planned unbalanced growth According to Singer balanced grew Sh cannot  solve the problem of tile under countries  nor do […]

Government Borrowing

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Government Borrowing Borrowing by the government is anal her method by which the saving of the community may he mobilized, Hut there exist a number of staccatos which hinder the success (If borrowing policy ill an underdeveloped economy. In many such countries. there are no organized money and capital markets and in those where such markets exist, they constitute a very small […]

Taxation

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Taxation There is considerable unanimity among  economists about the usefulness. nay necessity, of taxation and fiscal policy for mobilizing resources for economic development in the under-developed countries. When development has proceeded to achieve a certain rate of growth, the level of savings by households and businesses rises sufficiently to meet the requirements of development. But in the early Magus, some measure of […]

Size of Market and Inducement to Invest

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Size of Market and Inducement to Invest Investment means the expenditure on the making  and installation of capital goods construction of factories and the making of machines and their installation. execution of irrigation and power  projects. the construction of roads. railway. u Obviously an entrepreneur will be induced to invest III factories. machinery etc  if he expects […]