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The article presents a list of books and papers about economics. The books and papers include "The Oxford Economic Atlas of the World"; "International Affairs," edited by Alfred De Grazia, "A Bibliography of Higher Education in Canada," by Robin S. Harris, "Latin America," published in "The International Advertiser," "Agriculture and Growth," published in "Latin American Business Highlights," "The Problems of Federalism," published in "Executive," and "How Will Nuclear Energy Grow," published in "Common Market."

This paper considers the properties of the Divisia, or chain-link, index, as they relate to the argument that this is the most appropriate index for use in studying the sources of economic growth. The great advantage of the Divisia index is alleged to be its ‘accuracy’, that is, its capacity to combine time series of prices and quantities to give a true reflection of the height of a utility or production function over time. The paper shows that there are circumstances where the confidence in the accuracy of the Divisia index is justified, but that the conditions required are very restrictive and typically do not obtain in the contexts where the Divisia index is used. Misplaced confidence in the Divisia index has led to errors of interpretation that might otherwise have been avoided, and has given rise to a distorted view of the process of economic growth. [ABSTRACT FROM AUTHOR]

This paper examines selected demographic characteristics of countries at different stages of economic development On one hand, the data show that the demographic status of underdeveloped countries continues to be substantially more primitive than that of more economically advanced nations. On the other hand, there is evidence to suggest that some of the traditionally observed relationships (such as the inverse relationship between economic development and the rate of population growth) may not be as pronounced as was the case earlier in the present century. Since the various characteristics that differentiate underdeveloped areas from the rest of the world are closely related to the forces and circumstances which handicap their economic development, these findings may be taken as indicative of a real need for a continuous reexamination of the nature of the characteristic features of underdeveloped areas. [ABSTRACT FROM AUTHOR]

The article examines efficient accumulation paths in the closed production model. There are already a number of papers examining the behavior of "efficient" accumulation paths of finite or infinite duration. They have proved that, under certain conditions, efficient paths tend to move toward near a von Neumann path for most their duration. The corresponding theorems have been called "turnpike theorems" from the turnpike function of the von Neumann path. The author considered an economy with decentralized production in this paper. Proofs are given whenever either the corresponding results are new or the proofs themselves differ substantially from the original ones.

This little essay contains reflections provoked by another: Professor Joan Robinson's "Pre-Keynesian Theory after Keynes", published in the 1964 issue of Australian Economic Papers (Vol. III). To judge from her last section (briskly headed "So What?"), her aim is to deride the usefulness of the "Pre-Keynesian" growth models, some conclusions of which she summarises in her preceding pages with gay expressions of contempt. There is much in this body of theory, both of matter and of manner, that I too dislike. Nevertheless, I am out of sympathy with the particular objections to it that she feels and equally so with any large claims for the kinds of "Keynesian" theory she, by implication, approves. Hence I am tempted into some general remarks about the varieties and the usefulness of growth theory. If in making them I too adopt a controversial tone, I hope that readers wilt recognize that I, like Mrs. Robinson, have a constructive intent. This little essay contains reflections provoked by another: Professor Joan Robinson's "Pre-Keynesian Theory after Keynes", published in the 1964 issue of Australian Economic Papers (Vol. III). To judge from her last section (briskly headed "So What?"), her aim is to deride the usefulness of the "Pre-Keynesian" growth models, some conclusions of which she summarises in her preceding pages with gay expressions of contempt. There is much in this body of theory, both of matter and of manner, that I too dislike. Nevertheless, I am out of sympathy with the particular objections to it that she feels and equally so with any large claims for the kinds of "Keynesian" theory she, by implication, approves. Hence I am tempted into some general remarks about the varieties and the usefulness of growth theory. If in making them I too adopt a controversial tone, I hope that readers wilt recognize that I, like Mrs. Robinson, have a constructive intent. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to explore and quantify the difference between two measures of comparative economic welfare: (a) the more or less conventional measure of per capita national income, and (b) the capitalized value of expected future income per capita. The paper begins with a brief summary of the argument in favor of the present value of expected future income per capita as a measure of economic welfare. This is followed by an examination of the empirical relationship of the ratio of the suggested alternative measure to per capita income and an analysis of the variables used to compute the present value of expected income per capita. The main conclusion drawn from the calculations is that very substantial differences occur in the measurement of relative economic well-being depending on which measure is used. A final section discusses the implications of this finding for international comparisons of economic welfare. [ABSTRACT FROM AUTHOR]

The interrelation between changes in the economic structure, i.e., industrial distribution of income and labor force, and the size distribution of income is studied in this paper in a case study of India (1961–1960). The change in the size distribution of income is the sum of changes due to (1) inter-sectoral factors and (2) intra-sectoral factors. The need for this distinction is emphasized by the result obtained for India, that 85% of the changes in the size distribution may he assigned to inter-sectoral factors, and only 16% to intrasectoral factors. Since the inter-sectoral factors are significantly influenced by changes in the industrial distribution of income and labor force, our result points out a relation between economic growth and the size distribution which quite often is overlooked in studies of the size distribution. The results obtained in this paper support several cross-section results of Professor Kuznets. In particular some of these are: (a) inter-sectoral inequality in the economic structure widened with economic growth, (b) the inequality in the size distribution of India widened, (c) the level of inequality in India is higher than in any of the eight developed countries considered. [ABSTRACT FROM AUTHOR]

Book reviewed in this Article A nstey, V era, and M artin, A nne. An Introduction to Economics-For Students in India and Pakistan. B axa, J akob. Adam Müllers Lebenszeugnisse. B ergler, R einhold (Ed.). Psychologische Marktanalyse. C ampbell, R obert W. Soviet Economic Power C ohen, B enjamin J. Adjustment Costs and the Distribution of new Reserves C outsoumaris, G., W estebbe, R. M., P silos, D., M ichalakis, A., and X anthakis, N. Analysis and assessment of the economic effects of the U. S. -PL 480 Programm in Greece F riedmann, K aren J. German Grain Policies and Prices: G urvitch, G eorges. The Spectrum of Social Time. H eide, H olger. Die langfristige Wirtschqftsplanung in Schweden H elleiner, K arl F. The Imperial Loans H ershlag, Z. Y. Introduction to the Modern Economic History of the Middle East. Leiden H icks, J ohn. Capital and Growth. ISEA. Planification et analyse économiques J ohri, C. K. Monetary Policy in a Developing Economy J oint E conomic C ommittee (Congress of the United States). New Directions in the Soviet Economy K iss, G ábor. Gibt es eine ≪marxistische≫ Soziologie? L ebrecht, R obert G. Automatische Konjunkturstabilisatoren oder be-wusste Konjunkturpolitik ? L eontief, W assily. Input-Output Economics. M alinvaud, E. Statistical Methods of Econometrics M artin, A lfred VON. Mensch und Gesellschaft heute. N eufeld, M aurice F. Poor Countries and Authoritarian Rule. Ø lgaard, A nders. Growth, Productivity and Relative Prices. O ulÈs, F. Economic Planning and Democracy. P opper, K arl R. Logik der Forschung. R obinson, J oan. Economics-An Awkward Corner. S achverstÄndigenrat zur B egutachtung DER GESAMTWIRTSCHAFTLICHEN E ntwigklung. Jahresgutachten S eitz, T ycho. Preisführerschaft im Oligopol. T amagna, F rank. Central Banking in Latin America. T heil, H enri. Economics and Information Theory T illy, R ichard. Financial Institutions and Industrialization in the Rhineland T ouraine, A. (et al.). Workers' Attitudes to Technical Change T ullock, G ordon (Hrsg.). Papers on Non-Market Decision Making. Y eager, L eland B. International Monetary Relations; Theory, History and Policy. Y oung, J ohn P arke. United States Gold Policy: The Case for Change [ABSTRACT FROM AUTHOR]

Presents the estimates of final and intermediate commodity output derived from the manufacturing censuses in Canada. Rate of growth of the Canadian economy; Comparison of the process of industrialization in Canada and the U.S.; Examination on the growth and structure of the flows of commodity output.

This paper presents the results of sampling experiments that were designed to test the conjecture that under certain conditions the exact distribution functions of estimators and test statistics in a simultaneous equations model are not affected by the presence of lagged endogenous variables. The experimental data support the conjecture in almost every case. [ABSTRACT FROM AUTHOR]

The article focuses on a procedural aspect of the war on poverty, namely the role of the office of economic opportunity as coordinator of the antipoverty war. While coordination is a procedural task, it has clear implications for the substance and impact of public policy. Coordination involves the common direction of policies or programs to eliminate conflicts and divergencies and to insure their focus on a common goal for its better attainment.

This paper presents an analysis of the behavior of growth paths which are optimum with respect to the social welfare generated by consumption over a finite planning period. The principal result is the establishment of a (modified) golden rule turnpike property for such paths. [ABSTRACT FROM AUTHOR]

A number of official and Western estimates of China's national income for the period since 1949 are at present available. The official estimates are based on the Marxian production concept while the Western estimates are, in the main, based on the comprehensive production concept. The periods covered by the estimates vary; and even in cases where the periods covered are the same, the estimates vary in magnitude and, in most cases, in the implied rate of economic growth. Apart from differences arising from the different national income concepts and definitions employed in individual estimates, sources of discrepancies between series of estimates can be traced to the particular sets of primary data employed and also to the particular procedures followed in estimating the national income components. The present paper brings together the various estimates available to date and indicates for each, as far as possible, the basic production concept adopted, the particular national income aggregates estimated, the basic estimation approach employed, and the special procedures used for estimating some of the components of national income. Comparisons of the major series of estimates for the period 1952-1959 are made and the sources of disrepancies between the series are discussed. Finally, some problems are described which a researcher in the West has to contend with in working on China's national income accounting. [ABSTRACT FROM AUTHOR]

This article presents an empirical test on comparative cost theories. The tests are undertaken for three pairs of countries: Japan and the U.S., Peru and the U.S. and the Great Britain and the U.S. Although the choice of countries is determined by the availability of the relevant data, the coverage is interesting since the countries involved are at different levels of economic development, have different relative factor prices and due to differences in their geographical location, are likely to have different endowments of particular natural resources. The main finding of the tests discussed in this paper is that comparative costs can be explained in terms of the combined influence of the causal factors stressed in the Ricardian and Heckscher-Ohlin theories, even though neither theory gives satisfactory results when considered independently of the other.

The search for uniformities in the growth patterns of individual industries rose to a peak some 30 years ago in the explorations of economists Simon S. Kuznets and in the subsequent comprehensive work of Arthur F. Burns. Partly because of the widespread acceptance of these results and attendant explanations of their inevitability, and partly because of the compelling attractions of other economic problems, little additional work was done in this area for an extended period. Recent portents of a revival of interest stem from three sources: the growing output of long-term forecasts for individual industries, which invites a search for generalizations and efforts to reinvigorate research and theory relating to economic growth by probing the behavior of disaggregated sectors. This paper will concentrate primarily on reviewing Burns's expectations and comparing them with actual results over the following 25 years as a basis for: suggesting revisions in the interpretation of his original findings; outlining needed modifications in the theory as well as the pattern of industrial growth paths; and exploring the possibility of developing patterned expectations for the growth of individual commodities and firms.

The article assesses financial innovation and structural change in the early stages of industrialization based on the experience of the financial sector in Mexico from 1945-1959. A description of a traditional economy is included as is the transformation by which such an economy can become a developing economy through alterations in the production function. There are five ways, the article states, for financing innovation in developing economies, including self-financing, tax increases, direct financing, government securities, and indirect financing.

Responds to a critique of the author's paper on the pre-Keynesian theory of economics. Failure of the theory to distinguish between the degree of utilization of a stock of equipment already in existence and the choice of technique in schemes of new investment; Differences between different economic systems; Flaws of the critic's alternative theory.

The article presents a reference guide for monetary affairs. Names of publishers of books and the addresses of periodicals are provided to aid readers. Listings include only basic material, not news items or reports of transitory significance. "Foreign Trade and Finance: Essays in International Economic Equilibrium and Adjustment," is written by William R. Allen and Clark Lee Allen. Part I of "Balance of Payments and Economic Growth," by John M. Letiche, presents a critical review of current theoretical explanations of the international balancing process. Part II is an application of this theoretical analysis to particular issues of economic development. "Exchange Stabilization Funds," by Mordechai E. Kreinin is an abstract of a doctoral thesis completed at the University of Michigan in 1954. In "International Financial Transactions and Business Cycles," by Oskar Morgenstern, the interaction of international money markets and the spread of business cycles in the periods of 1879-1914 and 1919-1938 are studied.

The article measures the effect of public finance during the period 1793-1815 on the rate and direction of Great Britain's economic development. It explores the country's involvement in war during the period. One aspect of the war which has intermittently attracted economists" attention from the time of the "bullionist" controversy is the effect of the expedients that were adopted in the field of public finance. The article describes the sources of data which economic historian can use to be able to fairly measure the effect of the country's finance on the rate and direction of economic growth. An analysis on the economic indicators during the period is presented.

This article attempts to find the origin of money economy. The evidence at present available indicates that a money economy first developed in Mesopotamia and that this development took place some time before 2,500 B. C. There seems to have been no such development elsewhere before 2,200 B. C. This may fairly be said to be the scientific way to deal with the question about the origin of a money economy. A full answer would require a consideration of intermediate stages in the development process and of how one stage came to lead to another. Cultural snapshots are only a first step toward an answer; but it is an important step. If a cultural snapshot is not offered for any intermediate stage, it is because the research team do not have the necessary information. The two-stage approach to the question of how a money economy came into being in Mesopotamia has been dictated by the information available and the lack of it. The research team can cite a good deal in the way of empirical support for what he says about the early Ubaid period, although the research team have had to rely to some extent on inferences also. For the Sumerian period the team can document its statements much more adequately. It would not be possible today to present a comparably supported specification of any intermediate stage in the development of a money economy in Mesopotamia.

The article focuses on the implications of economies of scale for developing countries. It explores the empirical evidence on economies of scale at the aggregate as well as at plant level and further provides a statistical analysis of the influence of the size of plant to the output per worker. It also examines the relationship between the plant level economies of scale and the industry's structure as a sample of developed and developing countries. Moreover, the potential significance of the development of economies of scale on factor intensity and factor reversals are considered. Also included is a brief overview and policy implications for developing countries.

The agricultural problem stems, on the one hand, from rapid national economic growth which causes a relatively unfavorable income position for farmers. On the other hand, a major cause of the problem has been the rate of technological advance, which has caused food output to increase more rapidly than it can be absorbed by growth in the population and national income. The farm problem can be solved only over a longer period, as agricultural output is adjusted through transfer of labor resources out of agriculture and through a decrease in the number of farms. Also, farming in general must be made more flexible and more adaptable to relative changes in demand for agricultural commodities as economic growth continues. More than ever before the solution of the problem depends upon research and education in the social sciences. Quite obviously a whole complex of sociological problems revolves around the needed adjustments and their effects upon the community and the family. The help of rural sociologists is urgently needed in solving the basic structural problems of agriculture as well as the secondary problems which arise. Rural sociologists can make important contributions in providing better insights into the attitudes and values of farm people, desirable goals and patterns, acceptable rates of change, communication between educational institutions and farm families to prepare them for changes and to help them make wise choices, employment services to facilitate change of employment, and help with many other aspects of the problem. The rural sociologist has never had a better opportunity to assume his rightful place among other agricultural and social sciences. [ABSTRACT FROM AUTHOR]

This article examines whether an increase in population occurred in the same places where the action of capitalism was exerted. Between 1650 and 1950 the population of the area of European settlement grew. Therefore, the great increase of population in territories occupied by Europeans coincided with the industrial expansion of those territories. The early 19th century rise if population in Ireland was related to the increased market for food provided by advancing England. Adam Smith, witnessing the early stages of the relation between industrialization and population, gave it a general formulation: the demand for labor is what makes population grow.

The article presents information on several articles on economic history published in various journals. Some of the articles are "Of Plymouth Plantation As A Mercantile Epic," by J. Griffith, published in the "Arizona Quarterly"; "The Planters of Colonial Maryland," by A.C. Land, published in the "Maryland Historical Magazine"; "Trade, Distribution, and Economic Growth in Colonial America," by J.F. Shepherd and G.M. Walton, published in the "Journal of Economic History"; "The Demographic History of Colonial New England," by D.S. Smith, published in the "Journal of Economic History."

During the months of May, June and July, when the demand for tomatoes is at its highest, British consumers' needs are met by supplies coming from heated glasshouses in South Holland, in Guernsey, and in England and Scotland. The island of Jersey also sends a small amount of glasshouse tomatoes, but for all practical purposes Southern England and the two off-shore territories command the supply. [ABSTRACT FROM AUTHOR]

The article discusses the planning reforms implemented in Poland during 1964 and 1965. Topics discussed include Stalinist system, a political and economic system implemented in Poland, failure of traditional planning methods in providing services such as quality improvement, innovation and cost reduction, and decrease in sale of industrial products from Poland in its home and foreign market. A table depicting Eastern Europe's industrialization level vs. economic slowdown is presented.

The article reasons that there is no point in proceeding further with a detailed examination of problems of measuring human resources in relation to development until its purposes to which the data are to be put are clarified and agreed. Several possible applications of the data are reviewed and it is concluded that those which appear to require internationally comparable data on human resources have probably now been pushed as far as they can profitably go pending further progress in other directions. Studies based on international data on human resources have tended to confirm a prime facie case that no simple relationships can be expected to hold as between national levels of development and stocks of human resources. Consequently, it is proposed that attention now be turned towards the development of data that have a direct bearing on the rate of return on education in human resources in individual countries and the efficiency with which existing stocks of human resources are allocated in each country.

The article offers information about the Overseas Development Institute in Great Britain. It was founded towards the end of 1960 by a group of people who consider that the economic development of the countries of Asia, Africa and South America, and their relations with the industrially developed areas of the world, are of material importance. Its funds were received from the Ford Foundation, from British industry and commerce, and from the Nuffield Foundation. The institute is non-profit-making and its policies are decided by a council which is independent and non-governmental.

This section presents a bibliography of books on economics.

This article examines the branches of economic theory and development economics. The proliferation and sub-division of development economics is most dramatically shown by the many periodicals which devote themselves entirely to some particular aspect of the subject, such as development finance, development agriculture and so on. Such an economist should try to acquire a good working knowledge at least, of the broad economic dimensions and the basic features of the situation, in a wide range of underdeveloped countries. His aim should be to try to apply the existing economic theory in a more realistic and fruitful way to suit the varying conditions of the different types of underdeveloped country. An equally important part of his job would be to try to prevent serious misapplications of economic theory, whether of the orthodox type or the newer modern theories, to the underdeveloped countries. The alternative view which pervades thinking at present is that the advanced countries should take the responsibility of guaranteeing a politically-acceptable target rate of economic growth for all underdeveloped countries and, if this cannot be achieved by the latter countries' own efforts, the advanced countries should be prepared not only to increase the total volume of aid but also to increase the planning and supervision of the use of this aid so that the peoples of underdeveloped countries may enjoy economic development in spite of themselves. Obviously the underdeveloped countries cannot insist on freedom to use aid in any way they like and at the same time insist that the advanced countries guarantee a minimum target rate of economic growth for them all. Ultimately they will have to choose the one or the other.

The article discusses the importance of the Value theory in interpretation of the development of economic thought. It has been suggested that a useful construct can be devised for the development of economic analysis on the basis of value theory itself. Just as economic theory can be said to have taken the value notion as the basic item which is traced through the economic process, likewise the study of the development of economic analysis can be better understood by analyzing how each author and school approached the three orders of value. The three-value concepts use, exchange, and money, are conceived as being different orders of analysis each with its own peculiar assumptions, emphases, and problems of analysis. To take an example from current controversy, "welfare" within the order of value-in-exchange is properly and narrowly conceived merely in terms of a greater "value" of goods and services as valued in the market place. This is the social "model" or context, social in the sense of pertaining to the process of co-operative production and functional distribution. In terms of aggregate want satisfaction, the welfare propositions must be related to the individual use and thus the order of value-in-use. The problems of measurement and thus of aggregation have proved difficult if not overwhelming. Probably the order of value-in-use cannot receive significant treatment save within the psychological concepts of personality, both individual and social.

The article focuses on communist China's economic growth. The purpose of this article is to throw light on communist China's asserted economic growth by comparing it with that of the Republic of China, Hong Kong, and Japan. This is not to minimize in any way the Indian development, which has been rapid during the Nineteen Fifties and which has given very encouraging evidence to Asia of what can be accomplished with free institutions. It is merely an attempt to put Communist China's claimed economic progress back into focus. It should be emphasized that this article does not intend to analyze how effective the Chinese communists have been in improving their military potential even though this appears to be a primary aim of their economic policy. Instead this report intends to outline an approach for analyzing the relative effectiveness of the Chinese communist system in promoting economic growth; it is this latter question that appears to be most hotly debated. It appears that many analysts are convinced that just because a regime can hold down consumption, theoretically it should, therefore, be promoting a large volume of sound investment and a huge growth potential.

The article focuses on the economic development of a self-governing and a non-self-governing country. The article presents a study that consists of 198 political entities, classified into 88 self-governing entities and 110 non-self-governing political entities. The various self-governing political entities range in size from a population of about 5,000 to 400,000,000, the non-self governing political entities vary from a population of less than 1,000 to about 30,000,000. Results of the study reveal that readily reveals that the index of commercial energy production and the index of grain and food production are the two indices most efficiently discriminating between self-governing and non-self-governing political entities. Careful scrutiny of additional data may show that development is of great importance if a non-self-governing entity is to attempt effectively to gain self-government either through negotiation with controlling self-governing powers or through force of arms. A forthcoming series of articles will deal with the relation of development to unrest in various regions of the world.

The article presents details of published literature concerning world economy. The book "Principles of Economics and the Canadian Economy," by Ruben C. Bellan is an introductory text book in economics written on the Canadian economy.

The article presents details of published literature concerning international monetary affairs. An article "International Reserves and Liquidity," by T. Balogh published in "The Economic Journal," is an analysis of world monetary problems and of the exaggerated effect fluctuations in the great countries have on smaller ones.