Challenge of Technology

  • Alasdair I. MacBean
  • V. N. Balasubramanyam
Part of the World Economics Issues series book series (WEI)


Fashions wax and wane in development economics. The so-called ‘neo-classical’ model with its emphasis on savings rates and capital accumulation is now an old shibboleth. The ‘vicious circle’ breakers and ‘big push’-ers have had their moments of glory. The strategy of import-substituting industrialisation has not resulted in the hoped-for El Dorado. Technology is the new deity to which policy makers and economists are making obeisance these days.


Science Policy Factor Price Minimum Wage Legislation Relative Factor Price Technological Dependence 
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  1. 3.
    Frances Stewart, ‘Choice of Techniques in Developing Countries’, in C. Cooper (ed.), Science, Technology and Development (London: Frank Cass, 1973).Google Scholar
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    For a detailed discussion see V. N. Balasubramanyam, International Transfer of Technology to India (New York: Praeger, 1973).Google Scholar
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    A. K. Sen, Employment, Technology and Development (London: Oxford University Press, 1971) p. 12.Google Scholar
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    D. Morawetz, ‘Employment Implications of Industrialisation in Developing Countries’, Economic Journal, September 1974.Google Scholar
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    Warren F. Ilchman and Norman T. Uphoff, ‘Beyond the Economics of Labour-intensive Development’, Public Policy, Vol. 22, 1974.Google Scholar

Copyright information

© Alasdair I. MacBean, V. N. Balasubramanyam and the Trade Policy Research Centre 1976

Authors and Affiliations

  • Alasdair I. MacBean
    • 1
  • V. N. Balasubramanyam
    • 1
  1. 1.University of LancasterUK

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