Abstract
This study is designed to contribute some small part to the Free World’s relations with developing low-income areas in Asia. Much has been written on the subject of development since President Truman made his famous Point Four statement in January, 1949. Volumes of statistics have been poured forth showing the low level of income in these countries — the lack of sanitation, education and medical facilities, the high birthrate, ignorance, superstition, etc. Numerous books and articles have been written from many points of view on various aspects of the subject. Virtually all agree on the desirability of economic development for a number of diverse reasons including humanitarianism, political expediency in a bi-polar world and sustaining full employment in mature economies. Moreover, the various disciplines of the social sciences have been bringing to bear their specialized tools to consider phases of the subject with which they have been traditionally concerned. In the field of economics, there have been many specialized studies addressed to technical problems of one sort or another which the subject of economic development evokes. In short, for some years now, the implementation of a program for economic development has been in the stage of inquiry that concerns the “how.”
I am as impatient with those theologians of capitalism who preach that private capital can meet all the world’s development needs as I am with those theologians of socialism who preach that only state enterprise can satisfy demands.
Eugene Black, President, International Bank for Reconstruction and Development 1
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References
As reported in Time, October 28, 1957, p. 60.
Thus, for example, in the business firm “morale” can be considered an asset and morale-building expenditures carried to the point where marginal gain is just equal to marginal loss. K. E. Boulding, A Reconstruction of Economics, (N.Y., 1950). Lerner’s test of public expenditure as social marginal benefit outweighing social marginal cost is another manifestation of generalized marginalism. Abba Lerner, Economics of Control, (N.Y., 1947). In the field of economic development, the terms “social marginal net gain” and “social marginal net loss” have also been used.
Among the more well-known works on India, the following have been used. The full reference follows and all works will hereinafter be cited only by the author’s name and page number. Vera Anstey, The Economic Development of India (London, 1929)
P. Banerjee, A Study of Indian Economics (5th ed. rev. and enl.; London, 1944)
D. H. Buchanan, The Development of Capitalistic Enterprise in India (N.Y., 1934)
Kingsley Davis, The Population of India and Pakistan (Princeton University Press, 1951)
R. C. Dutt, The Economic History of India under Early British Rule (6th ed.; London, 1910)
D. R. Gadgil, Industrial Evolution of India (London, 1944)
B. B. Ghosh, Indian Economics and Pakistani Economics (Calcutta, 1949)
G. E. Hubbard & D. Baring, Eastern Industrialization and its Effect on the West (Oxford, 1935)
G. B. Jathar and S. G. Beri, Indian Economics (Oxford University Press, 1947)
P. S. Lokanathan, Industrial Organization in India (London, 1935)
K. L. Mitchell, Industrialization of the Western Pacific, (N.Y., 1942)
C. N. Vakil, Economic Consequences of Divided India (Bombay, 1950).
Anstey, p. 104.
R. C. Dutt, 6th ed. vii–viii. Chapter 14 of this work elaborates on this contention which seems to be the consensus of most indigenous authorities on India. However, stress has also been laid on the supplanting of the native courts by foreign rulers with different tastes, (D. R. Gadgil, 38 ff). British apologists, of course, take a position more sympathetic to British colonialism.
Anstey, pp. 5, 8 ff.
India, Planning Commission, The Second Five Year Plan (New Delhi, 1956), pp. 11, 14; The First Five Year Plan (New Delhi, 1952), pp. 18, 20, 23; The First Five Year Plan, A Draft Outline (New Delhi, 1951), p. 15.
The First Five Year Plan, A Draft Outline, p. 48; India. National Income Committee, First Report (April, 1951); Final Report (Feb., 1952).
Saving was supposed to have risen to 18% during the war, declining to 7% in 1945–46. Since that time, it was asserted, net dissaving has been the picture. Such sharp change is hard to visualize unless it is meant in a strictly financial rather than economic sense. Presumably people were forced to save during the war while inflation wiped out savings thereafter. Eastern Economist. (Annual number, 1948), p. 1130, quoted in U.N. ECAFE Survey (1950), p. 123. These Surveys will hereafter be referenced as ECAFE Survey.
Ibid., p. 129.
Second Five Year Plan, pp. 3, 11, 74.
The First Five Year Plan, A Draft Outline, ch. 1–2.
Second Five Year Plan, pp. 321–6.
Ibid., pp. 332–6.
Ibid., pp. 1387–92.
India, A Reference Annual, 1957, p. 296.
Second Five Year Plan, p. 24.
India, Planning Commission, “Employment Pattern and Policies,” Papers Relating to the Formulation of the Second Five Year Plan, (New Delhi, 1955), p. 246.
India, Ministry of Information and Broadcasting, Our Constitution (Jan. 26, 1950), pp. 1–7.
Marshall Windmiller, “The Politics of States Reorganization in India: The Case of Bombay,” Far Eastern Survey, 25 (Sept., 1956), 129–43.
“The Constitution of India,” Sections 39 (a)-(f) and 41, in India and Pakistan Yearbook (Bombay, 1950), p. 322.
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© 1959 Martinus Nijhoff, The Hague, Netherlands
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Spencer, D.L. (1959). The Setting of Enterprise in India. In: India, Mixed Enterprise and Western Business. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-0713-4_1
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