PATHWAYS TO ECONOMIC DEVELOPMENT (OISI)

This short concise work examines alternative paths to economic developmentwith special reference to the Indian contextfrom a broad general perspective that relies on theoretical analysis and historical contemporary development experience simplified for the nonspecialist reader. It first examines alternative meanings of development distinguishing between the growth of income and production poverty and distributional issues happiness and human functionings and capabilities and assesses Indias performance in terms of these alternative indicators. The book also analyses the main obstacles to economic development that have been identified by development scholars and practitioners distinguishing between domestic economic factors such as low levels of domestic saving and investment inefficiency and stagnant technology and poverty and inequality international factors such as international trade investment and technology transfers and noneconomic factors such as historical political cultural and social. Finally it discusses the main strategies for economic development reviewing debates about the roles of free market and the state autarkic and open economy approaches a focus on growth versus a focus on distribution and human development among others while arguing against a doctrinaire neoliberal strategy and favouring a balanced approach that pays careful attention to country and timespecific factors.