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Economic Planning and Social Justice in Developing Countries (Hardcover)
Loot Price: R4,175
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Economic Planning and Social Justice in Developing Countries (Hardcover)
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First published in 1978, this book was written at a time when
belief was high in Western-guided economic development of the
emerging countries. The success of Marshall Plan in war-torn Europe
generated a US-led optimism that, with generous inflows of aid and
technical assistance, the Third World could be won over in the Cold
War. The author's direct experience as a young academic economist
in Cyprus, Malaysia, Uganda and Liberia led him to question this
general optimism: the reality on the ground in the developing world
did not seem to match Western optimism. Theories and blueprints,
made in the West, did not fit the requirements of developing
countries. Higher production and better income distribution were
inseparable twin objectives of developing nations. That meant,
production of a higher national output must at the same time
promote social justice. Investment must create adequate jobs so
that new entrants into rapidly expanding labor force could be
gainfully employed. Yet, the dominant (Western) theories of
development at the time, in particular the Trickle Down Theory of
Growth, prescribed "Growth First, Distribution Later" strategy.
Similarly, Import Substitution Industrialization theories were
emphasized at the expense of export-led growth. Dualistic Growth
theories preached urban-biased, anti-rural development. This book
was written as a rebuttal of such faulty theorizing and misguided
professional technical assistance and the book's message is no less
valid today than in the 1970's.
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