This clearly written volume provides an accessible examination of the nature of disequilibrium models. Srivastava and Rao contend that existing software packages can be easily used to implement some of the relatively simple methods. This study furnishes a substantial grounding in the economics and econometrics of the disequilibrium models by reviewing the Walrasian general equilibrium theory and by comparing the two genuine alternative frameworks for analyzing economic phenomena. Srivastava and Rao demonstrate that while both frameworks share a common set of basic assumptions about the behavior of the economic decision making units, they differ in their assumptions about the ability of the markets to attain equilibrium within a single trading period and whether trading can take place out of equilibrium. The first two chapters provide background, divide the existing methods of estimation of disequilibrium models into two categories, and explain the estimation methods for the basic model that belongs to the first category. The next three chapters explain the estimation methods for the directional, quantitative, and generalized stochastic models of the second category. Various methods for testing and evaluating equilibrium versus disequilibrium hypotheses are investigated in chapter six. Chapter seven examines the assumptions on which the models are formulated and discusses some alternative specifications of the disequilibrium models. The final chapters provide analyses of the economics and econometrics of the multi-market models and illustrate how some simple estimation methods can be used to estimate the disequilibrium formulations of the U. S. labor market. This is an important volume that will aid in the achievement of methodological consistency between analytical philosophy and the estimation methods in the applied work on disequilibrium economics.

PART ONE THE CONCEPT OF HAPPINESS 1. Gita on Renunciation and Enjoyment Meena Shukla 2. Consumption and Human Development Asok Barman 3. Control of Senses Pradeep Kumar and M. Vandana 4. Relevance of Material Comforts V.K. Hampiholi 5. Self-Actualization: The Ultimate Goal of Human Development Reena Basu 6. Happiness Dharmender Kumar Misra 7. Materialism in the Rigveda and Charvaka Dharmender Kumar Misra 8. Realization of the 'self-in-self' is the Key to Sustainable Development R.K. Bhattacharya 9. The Rational and the Spiritual Surender Pratap 10. Body and Soul in Human Development Om Prakash Dubey 11. Food of the Mind Prasada Raju 12. Indian Approach to Human Development v.K. Shrivastava and R.S. Dube PART TWO DHARMA AND HUMAN DEVELOPMENT 13. Emerging View of Human Development - Where the East and the West Meet R.K. Bhattacharya 14. Reconciliation of Consumerism and Sustainable Development Gautam Kumar Basu 15. Global Equity and Human Development Sumita Sen 16. Yoga in Sanatana Tradition and its Relation with Human Values Surender Nath Pal 17. Expansion of Consciousness Kumar Mitra 18. Role of the Market in the Health Sector Prajna Shrivastava 19. Smart and Good Govemnance - Our Cultural Heritage Neela Trivedi PART THREE HUMAN DEVELOPMENT INDEX 20. Values and Character Onkar Nath Tiwari 21. The Inner Self S.P. Das Cupta 22. Role of Spiritual Education in Human Development Mukul Mukherjee 23. Rabindranath Tagore and Amartya Sen on Human Development Ratan Lal Basu 24. Moral and Spiritual Index of Human Development N.M. Lall 25. Aesthetic Views of Swami Vivekananda Tapobrata Sanyal 26. Oneness Lubna Marium 27. Impact of Greek Philosophy and Christian Theology on Materialistic Concept of Human Development P.K. Patankar 28. Economic growth versus Employment Raj Kwnar Sen 29. Social and Moral Role of Education Meenakslzi Mishra 30. Poverty Index Shekhar Mukherjee 31. Human Development Index (HDI) in Madhya Pradesh: Reassessed A.S.Dey PART FOUR SOCIAL ORGANIZATION FOR HUMAN DEVELOPMENT 32. Human Welfare in Hindu Scriptures S.K. Dixit 33. Vama and Caste Dharmender Kumar Misra 34. Importance of Vama System in the 21st Century Mala Pyasi 35. Good and Bad in Vama System Mamchand Rewaria 36. Impact of Casteism Raj Pal Singh 'Raj' 37. Evolution and Function of Vama.System Brij Bhushan Rajvanshi 38. Caste Associations Ram Swarup 39. Contradictions of 'Dalit' Literature Sharad Singlz PART FIVE THE ROLE OF DEVELOPMENT WORKERS 40. Sanatana Concept of Social Work Bhartendu Prakash 41. Livelihood of the Social Worker Blzarat Gandhi 42. Social Worker and Society Satya Prakasl, 'Bharat' 43. Social Worker and the State Roslrall Lal Index