Concentration and Economic Equality

Bimal Jalan While there should be wider diffusion of the benefits of economic development, recent policy measures on industrial licensing and for control of big business are unlikely to meet that commendable objective. This is so because the criteria in the application of those measures are not those of efficiency, nor is the levelling down achieved by them in any way destined to help the 95 per cent or more of the country's population that exist just about at, or below, subsistence level.