Unfashionable economics: Essays in honour of Lord Balogh

In the third section-on the State and the Economy-Gunnar Myrdal sees the sociological factors in underdevelopment as reasons for harder government intervention in the underdeveloped economies. In his contribution, Michael Shanks gives his views on the use of economists in Whitehall, Roger Opie considers the effectiveness of monetary policy and David Henderson raises some issues and problemas concerning cost-benefit analysis as it relates to policy making in government, putting forward some of his own suggestions. Finally in this section W.G. McClelland outlines the causes and consngarors of the rece increase in management education in Britain, and analyses its value together with the related problems of finance and teacher supply.

Economic theory is the subject of the last section, and Lester Throw ws up Thomas Balogh's thesis regarding the inadequacy of neoclassical production functions in his essay, while Richard Portes considers the problem of inefficiency in the presence of externalities.

Paul Streeten, the editor of this book, is a Fellow of Balliol College, Oxford and Director of the Institute for Commonwealth Studies. His published work includes Economic Integration, Valur in Social Theory (editor) and The Crisis of Indian Planning (with Michael Lipton)