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By Evsey D. Domar

This booklet comprises fourteen of Professor Domar's central papers, starting with at the size of Technological swap, released in 1961 and finishing with The Blind males and the Elephant, which has no longer seemed in print prior to. The e-book is split into 4 elements. half I offers 3 non-technical essays on financial improvement and financial structures, together with a unique comparability among them. half II bargains with the speculation and size of the so-called "Index of overall issue productiveness" for numerous international locations, and comprises an essay at the idea of index numbers. half III compares the Soviet and American styles of monetary improvement. half IV offers 3 functions of monetary thought to ancient difficulties: specifically, serfdom and slavery, and includes the now vintage essay The motives of Slavery or Serfdom.

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Nevertheless, if the book's subtitle were A List of Evils of the American Economy, or something like that, I would not quarrel with it; I might even suggest a few extra ones. But what provoked me was the word "Analysis" in the subtitle. Now, I thought, our radicals will analyze the causes of American evils and show that they are indeed produced by capitalism. Unfortunately, my high hopes were disappointed. II American capitalism is charged with six principal evils: inequality, alienation, racism, sexism, irrationality, and imperialism, plus a number of Reprinted by permission from The Journal of Political Economy, Vol.

They were reflected in Martin L. , 2 3 1984, and in a paper by Tibor Scitovsky, "Pricetakers' Plenty: A Neglected Benefit of Capitalism," Kyklos, Vol. 38, 1985, pp. 517-36. The person who identified this little tale as Indian was Padma Desai. The more I think of it, the more I am struck by its depth. Consider how many religious disputes, persecutions, and wars might have been avoided if its spirit had prevailed. It seems to have prevailed among the thirteenth-century Mongols, who practiced remarkable religious tolerance in the belief that every religion had something to contribute.

England got along without any special innovations; France, and particularly Germany, developed the investment banks. The big push in Russia and Japan in the last century came from the government. Russian innovations since 1928 and Chinese since 1949 have been most radical, and yet one wonders what Africa will do in her time. We may disapprove of these costly, even if heroic, methods of development, but we must understand the preference for them by many intellectuals in underdeveloped countries.

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