ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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On Rolling Plans

October 8, 1977 of the farming surplus to inefficient industrial ventures rather than being caused by institutional barriers to rural growth? An outsider, like the present reviewer, is unable to judge these empirical queries. Wherever the truth may lie, for him the methodological importance of Mitra's book remains unimpaired. For this book is a con crete attempt to analyse critical macro- economic relationships and government decision-making from a truly political economy perspective. Not only will it help economists to understand what makes governments tick, but also teach them how to think about the interrelationships between critical relative prices, income distribution, and power relations in developing economies. This is a far more difficult enterprise than the derivation of policy prescriptions from the maintainisation of social welfare functions, but it is the only course of action open to those in the profession who consider economics to be a serious social science rather than a mathematical playground.

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