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Evaluates several articles on the economics of British colonialism. Contention regarding the acquisition of colonies as the consequence of the development of capitalism; Political motives behind British colonial expansion; Economic factors in British annexation; Implications of British dependence on its colonies for raw materials and markets; Link between commercial interest and British colonial policy.

This article discusses on a study of economic wants as depicted in Indian economic literature. The very concept of economic development implies reallocation of resources, which in large part implies reallocation of human beings. This always entails hardship and frustration. Should the cultural milieu be resistant to change, then the degree of friction becomes greater. A singular characteristic of the Indians seems to be that the cultural milieu is more flexible than is popularly supposed; thus analysis of the problems of economic development in underdeveloped areas has real value. Attention has at least been focused on one of the factors of a mutually causative process: if the cultural milieu impedes economic growth, the resulting low rate of economic growth supports the philosophy of the cultural milieu that produces it. To the Indian there is great merit in envisaging the ascetic-type nationalism and self-abnegation as substitutions of inputs. These substitutions compensate psychologically for the failure of economic goods and services to become available.

In this article, the trade-off between accuracy and reporting speed is analyzed for three widely used monthly time series: retail sales, the book value of inventories in manufacturing and trade, and employees in nonagricultural establishments. The effect of early errors in these series on the preliminary and provisional GNP estimates is also examined. Generally, the accuracy of the statistics is inversely related to the speed with which the data are reported. Even in the best series, the errors associated with the early data are 50 per cent of the changes in the final data. Moreover, the direction of movement indicated by the early and final sets of data differ in 20-50 per cent of the months. These errors are translated into the GNP accounts. [ABSTRACT FROM AUTHOR]