Aspects of economic theory, liquidity, growth and policy in India

Prof. Ragnar Frisch had once written to draw the attention of the West to a possible loss they are incurring in ignoring the lessons of the Orient. However, it is more pertinent to bring to the attention of the East the potential dangers of the gradual erosion of the Oriental outlook in its own land. With the rise of new institutions in the East on the western pattern, we can only ill-afford to ignore the advances made in the western knowledge: but, this knowledge should not be taken as a ready-made solution to our problems. A possible combination of the oriental out look and western knowledge may help the whole world. The oriental way of thinking, analysis and exposition does not neces sarily take a stand behind jargons and this is good enough to focus attention on the fundamentals.
Prof. J. K. Mchta made us (the students) learn the Oriental way of thinking along with economics and over the last few years a number of essays-some short and some long-were contributed to different magazines and journals. The present volume was planned to bring together some of these essays-thanks to our Publishers because it was due to their keen desire to publish a collection that it was planned.