Full development in a planned economy

These seven essays of Dr. Gautam Mathur break away from the traditional approach towards economic development and make use of elements of Keynesian thought superimposed upon propositions following from the works of Piero Sraffa, Von Neumann and Joan Robinson. The volume is exclusively devoted to the development problems of less developed countries and examines the main strategies of development hitherto proposed. It has been found that these strategies, when followed, have not brought the desired results. Hence, an alternative strategy (relevant to countries having surplus population with fairly low standard of living of the masses) has been propounded. This strategy is described as the optimum strategy envisaging a transformation of the economy from the level of under-development to the level of Full Development and Full Employment which the modern technology allows, within the present polity and the socio-economic milieu. This strategy has been known as Strategy for Inter generational Equity which is capable of providing Growth Social Justice both for the present generation and the generation to follow. The means of implementation, in a non-inflationary. manner, have also been spelt out making use of inductive instruments rather than physical controls.