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In spite or a recent resurgence of interest in the economics of minority groups at least one burning question still awaits a definitive answer in American discussions of the subject. This is whether or not the Negro's economic position has improved pari passu with the development of the economy as a whole. So far attempted answers have differed greatly. Representative of the one group is an opinion subscribed to by economist Herman D. Bloch that the idea that the Negro has enjoyed an advance in economic status is a fallacy. In this paper it is attempted to scrutinize the validity of this statement. There seems to be an unnecessary undercurrent of despondency about the economic future of Negroes. This is perhaps a result of social scientists allowing themselves to be so moved by the worldwide abhorrence of discrimination that they tend to exaggerate the incidence and effects of such discrimination, almost as if all Negroes were poor and all whites rich. The fact is that the relative number of Negroes in higher income groups has been rising. Indeed, it is often overlooked that white poverty is actually a bigger problem than Negro poverty for instance, compared with 4 million Negro poor in rural areas, there are more than 12 million poor whites,15 and neither is white poverty limited to rural areas.

This article concentrates on a problem which so far has received only little attention by economists, the role of human resources in the process of economic advancement of underdeveloped areas. This topic has formidable proportions and cannot be treated in full within the framework of this paper. The author confines his remarks, therefore, to a specialized point, the place of entrepreneurship in economic development, and hopes to show, at least by implication, some of the more general problems arising in a consideration of the role played by human factors of production in the process of economic development. A study of economists' opinions on entrepreneurship leads to strange and sometimes contradictory results. Some writers have identified entrepreneurship with the function of uncertainty-bearing, others with the coordination of productive resources, others with the introduction of innovations, and still others with the provision of capital. It is probably true that at different times and under different institutional conditions each of these aspects may have constituted the primary, or at least socially most significant function, of entrepreneurs, and this function was then selected as typical and regarded as the unique contribution of entrepreneurs in the process of production.

Since E.S. Phelps published [7] his paper on "The New View of Investments" there have been discussions on the long-run implications of the embodiment hypothesis of technical progress. The authors of [1], [2], [3] and [6] discussed whether the sensitivity of output to savings is higher where technical progress is embodied than where it is disembodied. D. Levhari and E. Sheshinski [4] studied the relation between the rate of return and the rate of embodied technical progress and subsequently [5] examined the effect of embodied technical progress on the factor price frontier. The purpose of this paper is further to explore the long-run implications of the embodiment hypothesis and to show that the short-run behavior of an economy with embodied technical progress also differs from that of an economy with disembodied technical progress. Following Phelps [7] and others, we consider the putty-putty case where factor substitution is possible both ex ante and ex post. In Section II the complete model will be described, and a parameter, α, will be introduced to indicate the fraction of technical progress which is embodied. Section III concerns the long-run effects of the embodied technical progress, while Section IV discusses its short-run implications. [ABSTRACT FROM AUTHOR]

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]

This paper arises out of my practical concern for 3½ years with the industrial work of the National Economic Development Office, and in particular the establishment of some 20† Economic Development Committees, a number that is likely soon to rise to 25. These immediate concerns are, however, supported by 17 years previous experience in handling aspects of the relationship between industry and Government. I have therefore a special interest in the opportunities these committees may create for Government to improve its general relations with industry and, no less important, for industry to ensure that Government is more continuously and effectively informed of industrial needs and conditions. I shall describe how these committees came into existence and outline their formal composition and structure. This will lead to consideration of their functions, potentialities, and limitations. As for their potentialities, I shall allow myself to speculate on whether we have somewhat unwittingly stumbled on a method of providing a missing link in our industrial economic structure. [ABSTRACT FROM AUTHOR]

SUMMARY S olow's famous contribution to the theory of economic growth is based on the assumption that the savings proportions are the same for all income earners. In this study this restrictive premise is replaced by the assumption that the savings proportions vary according to the different groups of income earners. This paper sets out to analyse the resultant consequences for the long-run equilibrium growth. One essential result is that both the overall savings proportion and the capital-output-ratio are flexible. Their steady-state solutions are, in contrast to the respective solutions in S olow's original paper, dependent on the form of the production function. Moreover, there can be derived certain conditions for the special long-run equilibrium of the Neo-Classical Theorem, which are implying no specific restrictions on the savings proportions of the various groups. Besides, there is shown that on these conditions not only a maximum of total consumption per man is achieved but also an equal distribution of consumption among all groups. [ABSTRACT FROM AUTHOR]

SUMMARY The paper analyzes the effect of inflation on interest rates in the context of economic growth. It is well known that in a stationary economy inflation will result in an upward adjustment in the nominal rate of interest on bonds, but by less than the rate of inflation. To the substitution effects operating under stationary conditions economic growth adds income effects. These will generally reduce the adjustment on interest rates and may, in exceptional cases, even produce a fall in the (nominal) bond rate. This is because inflation, by stimulating capital formation, may increase real income which, depending on the income elasticity of the demand for different assets, stimulates the demand for bonds. The exceptional case may materialize even under stable conditions. The analysis is based on a model of balanced growth with stock demand functions for capital goods, bonds and cash balances, while money is issued by the government in purchasing goods and services. [ABSTRACT FROM AUTHOR]

SUMMARY In this article several standard models of economic growth are considered from the point of view of Welfare Economics. As the growth models show a rather material orientation, it might be thought useful to look for the implicit assumptions that are made with respect to the behaviour pattern of consumers and producers, who ultimately govern the actual path of a process of economic growth. To do so fruitfully, the paper starts with a discussion of the role of preferences in economic theory. A distinction is made between individual and collective preferences. The opinion is expressed that up to now economic theory neglected the influence of collective preferences on main economic categories such as prices and income. The discussion of the neo-classical and Harrod-Domar growth models from the outlook of preferences leads among others, to the conclusion that the relation between imperfect competition and economic growth should be studied in more detail. All hitherto published growth models seem to start from the behaviour pattern of individuals that is compatible with perfect competition. [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]

SUMMARY The paper presents a multisectoral growth model which is readily computable with non-linear production functions and is descriptive of economic conditions prevailing in over-populated countries. The purpose is to show the optimal allocation of resources over time in a labor surplus economy if the dominant social consideration is to increase the rate of employment as fast as possible. Given an institutionally stipulated minimum wage rate and certain other assumptions, the path that maximizes the rate of economic growth also approximates the path that minimizes the time needed to attein full employment as long as the rate of increase of the capital stock exceeds the rate of growth of the potential labor force. A rigorous proof of the proposition is presented with the help of the calculus of variations and the numerically computable solution of the growth model is derived from the conditions underlying the optimum at any moment of time. The model is an analogue of competitive markets under appropriate demand conditions. In addition, since it is computable, the model can be used by economic planners in countries where large scale unemploffment or under-employ-ment exists. [ABSTRACT FROM AUTHOR]

SUMMARY The purpose of this paper is to offer an appraisal, in the light of the theory of economic policy, of some recent attempts to survey the fiscal systems of a number of SUPHAN ANDIC AND ALAN PEACOCK African and South American countries. The authors contend that any recommendations about the size and structure of the fiscal system must be clearly related to specific policy aims which are embodied in an economic model in which the variables and parameters are adapted to the economy in question. They also stress that recommendations concerning changes in the administrative structure depend on the type of model considered relevant to the particular circumstances of the economy under scrutiny. The various fiscal surveys are then examined, it being admitted from the out-set that they have been conducted under difficulties (e.g. lack of statistics, sensitivity of the sponsors to criticisms of existing policies). Nevertheless, as the surveys rarely do more than list objectives without reference to orders of priority and are frequently vague about the type of economic models employed and the values of parameters, it is impossible to evaluate their policy recommendations. [ABSTRACT FROM AUTHOR]

SUMMARY The paper starts from Schumpeter's interpretation of Adam Smith's concept of the contemporary embryonic industrialist whose main function was considered to be the accumulation of capital. The author traces the development of this concept in the nineteenth century and tries to explain its origin. He shows that medieval reality, i.e. the relationship between stans and transactor in the societas maris is at the root of Smith's concept. It remained justifiable as late as 1776 on the basis of the cooperation of capitalist and entrepreneur-manager in the early mechanized cotton industry, as it is presented in Robert Owen's autobiography. But just this self-testimony shows also the rapid change of this relationship after the appearance of the Wealth of Nations, which neither the classical economists nor Marx under-stood in their implications. From this came an unfortunate economic legacy, the misunderstanding of certain aspects of entrepreneurship, which only Schumpeter discarded on principle in his Theory of EconomicDevelopment. [ABSTRACT FROM AUTHOR]

SUMMARY As a measure of society's marginal rate of substitution between consumption in consecutive years, the STP rate is basic to evaluating public investment alternatives. This paper derives the STP rate as a function of two 'observable parameters' (the growth rates of population and consumption) and three 'policy parameters' (the 'pure' time-preference rate, the elasticity of the utility-consumption function, and a population parameter). The equality of the rate of growth and the STP rate is shown to be only a very special case. The STP rate is unaffected by the relative shares of different income groups as long as the distribution remains unchanged. [ABSTRACT FROM AUTHOR]

SUMMARY This paper touches on three models of growth, viz: the F el'dman (Soviet) model, the H arrod-D omar model and the M ahalanobis (Indian) model. Of these three, the ancestry of the first is maintained in respect of both its contents and historical sequence. It is argued that the Soviet model is superior to the other two models because it recognizes the significance of a number of factors, viz: (a) the pattern of income distribution, (b) increase in the effective utilization of the existing capital stock, (c) distinction between degrees of effective utilization of the old and the new capital stocks, and lastly, (d) consideration of the rate of growth in terms of capital capacity as well as in terms of the absorption of a growing labour supply. In other respects, the model runs more or less parallel to the H arrod-D omar and M ahalanobis models. Some striking similarities between the Soviet and Indian models exist in spite of the differences in economic and political conditions of the two countries. These are: (a) the Marxian setting of two departments of a closed economy, (b) the aim of achieving a high rate of investment by expanding the capital goods sector and (c) a relative neglect of propensity to save as a crucial variable in the process of growth. The affinity between the Indian and the Soviet models is so strong that the former seems to answer the Soviet rather than the Indian conditions. [ABSTRACT FROM AUTHOR]

SUMMARY Many of the central problems surrounding economic development require a broader analytic context than that provided by traditional Western economic theory. The value of the institutionalist tradition has been referred to with increasing frequency in this regard. The contributions and shortcomings of this tradition are well illustrated in V eblen's thought. The shortcomings, the principal subject of this paper, include (a) an inadequate treatment of economic motivation (b) a tendency to view the study of economic institutions as a substitute for, rather than a complement to, price theory (including the related disciplines of mathematical economics and econometrics) and (c) an inadequate exploration of the nature and significance of alternative institutions in their relation to economic development. In each of these respects the concepts and comparative analyses of M ax W eber provide valuable additions to both methodology and theory. Weber's legacy deserves the attention of all those who believe that (to paraphrase Whitehead) economics should be a survey of possibilities, not a quarrel among irritable professors. [ABSTRACT FROM AUTHOR]

rrow, K. J., K arlin, S., and S carf, H. (eds.). Studies in Applied Probability and Management Science. i B ailey, M artin J. National Income and the Price Level. B esson, J ean-F ranÇois. Les groupes industriels et l'Europe. B rus, W. Ogólne problemy funkcjonowania gospodarki socjalistycznej. C airncross, A. K. Factors in Economic Development. G ottfurcht, H ans. Die internationale Gewerkschaftsbewegung im Weltgeschehen. H aroldsen, E dwin O. (ed.). Food-One Tool in International Economic Development. H irschman, A lbert O. Journeys toward Progress: Studies of Economic Policy-Making in Latin America. H omer, S idney. A History of Interest Rates - 2000 B. C. to the Present. J ohnston, T. L. Collective Bargaining in Sweden. K ahn, H ilda R. Salaries in the Public Services in England and Wales. K rauel, W olfgang. Betrachtungen über geistige Strömungen im modernen Brasilien. M eier, G erald M. International Trade and Development. P aish, F. W. Studies in an Inflationary Economy. P almer, G ladys L. and others. The Reluctant Job Changer: Studies in Work Attachments and Aspirations. R obbins, L ord. Politics and Economics - Papers in Political Economy. R osenbluth, G. and T horburn, H. G., Canadian Anti-Combines Administration 1952-1960. W asserman M ax J., H ultman C harles W., Z soldos L aszlo. International Finance. W rigley, E. A. Industrial Growth and Population Change. [ABSTRACT FROM AUTHOR]

Copyright of Kyklos is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Kyklos is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this paper is to investigate the sources of economic growth in Japan and in compare the results with those in the U. S. and Europe as studied by E. F. Denison. The method used by Denison is followed as far as possible. The character of this paper is of fact finding, and the interpretation of results or the originality of methodology is not dealt with here. The results may be summarized as follows. (1) Japan's growth rate is two times that of Europe and three times that of the United States. (2) The contributions of labor, capital, and the residual to economic growth are all higher for Japan than for the U. S. or Europe. (3) Factors which account for the higher contribution of labor to economic growth are (a) the higher rate of increase in employment, (b) less shortening of working hours, and (c) improved age and sex composition. (4) Factors which account for the higher contribution of capital to economic growth are a higher rate of increase in capital input and the high elasticity of production with respect in capital. (5) Other notable points include: (a) the contribution of education is lower for Japan; (b) the capital-labor ratio in Japan increased remarkably; (c) capital's share of national income is higher; and (d) 60% of Japan's economic growth is accounted for by the residual. [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]

This paper is a part of a larger study of economic growth in Canada, following the methods developed by Edward Denison in his book The Sources of Economic Growth in the United States and the publication Why Growth Rates Differ. The new material in this paper relates to Canada and the Canadian/U.S. comparison, while the material on Northwest Europe is drawn from the Brookings study. The present paper sets out the results to date on the differences in real output per employed person between Canada and the United States for one year, 1960. At this stage in our research the results indicate that the level of real output per employed person in Canada was about 20 per cent lower than in the United States in that year. On the basis of historical output data, it would appear that this margin of difference in Canadian/U.S. product levels has persisted throughout the present century. The central part of this paper examines the significance of differences in factor inputs in Canada and the United States and their contribution to the difference in income. The level of inputs per employed person in Canada accounts for only about 2 percentage points of the income difference between Canada and the United States. These results indicate that the overwhelming part of the difference in output per employed person between the two countries reflects the differences in output in relation to total factor inputs, rather than the magnitude of other factor inputs used in combination with labour. This result is consistent with earlier studies by Denison and others which have indicated the crucial importance of output in relation to total factor inputs, both in output growth over time and intercountry comparisons of output level. The body of the paper can give only brief attention to the numerous conceptual and statistical questions that arise in such a wide-ranging study, and the authors do not pretend to have tackled, let alone resolved, all of the wide range of problems related to this study. Nor do they claim any high degree of precision for the results, especially in the light of the statistical limitations of the basic data. [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]

Paul Samuelson [5] [6] and Peter Diamond [2] have developed growth models in which the attempt by each economic unit to maximize its utility does not lead to a social optimum. It would be possible for all generations to consume more per capita, if economic growth were directed by an omniscient social planner. Their models are free from the usual sources of inefficiency encountered in price theory. They explicitly assume perfect competition, perfect foresight and no external economies or diseconomies. The purpose of this paper is to introduce government institutions which may have little foresight, which will not engage in central planning or use direct controls but whose existence will guarantee that the equilibrium solution will be optimal. I am interested in determining the minimal amount of government which is sufficient to produce long-run optimality.
Diamond's long-run ratio of capital to labor k (in Figure 1) could yield an interest rate above or below the growth rate. Capital at time t+1 is equal to current savings of workers which depend upon the current wage W[k(t)]. This wage was determined by the savings of the previous generation of workers and the size of the current labor force. No saver has an influence on his wage, which determines the present value of his consumption, since he has no effect upon the current stock of capital. His saving decision affects both his retirement income and the next generation's stock of capital. Only the retirement income, however, concerns him. He has no interest in the real wage of the next generation of workers. If he values current consumption highly, he will 1 r=(1+n)/(1-)(1-) in his model [2].
save little and the resulting interest rate next period will be "high". On the other hand, if he values future consumption highly, he will save a lot and the resulting interest rate will be "low" in the next period. There is no reason why the equilibrium interest rate should equal the... [ABSTRACT FROM AUTHOR]

The article presents information on the problems of research collaboration and cooperation. This paper brings together the various suggestions, cautions, warnings and recommendations dealing with problems of research collaboration and cooperation, in order to enable those who contemplate cross-cultural social-psychological research on developing countries to more easily review some practices which the people thought to be desirable as well as others which the people thought to be objectionable. Collaborative research between investigators in developed and in developing nations should attempt to deal with variables that are pertinent to both settings rather than surrender entirely to the needs and interests of one or the other setting or group of participants. Collaborative research between investigators in developed and in developing nations should attempt to deal with variables that are pertinent to both settings rather than surrender entirely to the needs and interests of one or the other setting or group of participants.

Presents a framework based on differential rates of economic growth for the analysis of the relative changes in production structure and per capita income in each member country of the Latin American Free Trade Association and the Central American Common Market. Regional economic integration; Market forces released by trade liberalization; Components of change in aggregate income.

The purpose of this paper is to derive sufficient conditions for the relative stability of the economic system in the presence of Hicks-technical progress, which may be neutral or non-neutral. To facilitate our analysis, we give a more general connotation to the equilibrium growth path by defining it as the path where the rate of growth of capital differs from the exogenously given rate of growth of labor by a constant rate, the difference being positive or negative. In this way, we show that the equilibrium growth path is stable even if capital stock grows slower than labor by a constant rate. * This paper, which was written in September 1969 while the author was Assistant Professor at Southern Illinois University, is a generalized version of our results in [2]. The financial support for this research came from a summer-grant by the Graduate School of Research at the Southern Illinois University. I am grateful to the referee for several useful suggestions. [ABSTRACT FROM AUTHOR]

The object of this paper is to quantify --was far as available data permit--the sources of economic growth in Latin American countries (LAC) between 1950 and 1962. The study deals only with Argentina, Brazil, Chile, Colombia, Ecuador, Honduras, Mexico, Peru and Venezuela. These countries contain 89% of the total area, 85% of the population, and include all the levels of development in Latin America. The period chosen for the study, as well as the methods used, make it possible to compare the results obtained with those of Denison for Europe and the U.S.A.
In this paper, a large number of sources of economic growth have been explored. The results show that social investments in dwellings, health, nutrition and education are important, particularly in developing countries, and confirm results obtained with other methods, such as those of Galenson (16) and Oshima (23). However, the information provided here should be complemented with that on returns per unit of investment before being used for policy decisions. [ABSTRACT FROM AUTHOR]

This paper represents the preliminary results of the author's research on the effects of post-war immigration on Australia's aggregate rate of economic growth. As such it deals with the dynamic macro-economic effects of migration, and many of the micro-economic problems associated with immigration are not directly considered. The subject of this paper has become quite important in the light of recent public discussion, culminating in the government's announcement of a full-scale review of Australia's immigration programme.[4] Much of the discussion on immigration has centered on whether or not we are utilizing the skills of the migrants to the fullest, and whether or not there are non-economic costs attached to immigration. [ABSTRACT FROM AUTHOR]

This paper reviews the current state of knowledge about the effects of industrialization upon systems of social stratification. Taking societies as the unit of observation, we consider the relationships between level of industrialization and (I) the distribution of status characteristics in the population (the structure of stratification) ; (2) the pattern of interrelations among status characteristics (the process of stratification); and (3) the form of linkages between status characteristics and other aspects of social behavior (the consequences of stratification). A set of propositions is specified, a few of which are empirically well established but most of which yet require empirical testing. [ABSTRACT FROM AUTHOR]

A list of articles related to marketing that were published in several journals is presented. The articles include "They Love Hollywood!," by Stanley Lichtenstein, "10 Ways to Succeed in Exhibits Abroad," by Peter Corn, and "Marketing in Economic Development," by Reed Moyer.

The article presents a list of articles related to industrial relations published in various journals. Some of the articles included in the list are: "Executive Compensation: A Growing Problem for International Companies," by John G. McDonald, published in an issue of Management International; "Economic Development and the Sectoral Expansion of Employment," by Walter Galenson, published in the June 1963 issue of International Labour Review; "Facts and Observations on Labour Productivity in Western Europe, North America and Japan," by Angus Maddison, published in August 24, 1963 issue of Productivity Measurement Review; "International Comparisons of Unit Labor Cost: Concepts and Methods," by William C. Shelton and John H. Chandler, published in May 1963 issue of Monthly Labor Review; "A Progress Report on the Status of Women," by Gladys A Tillett, published in July 22, 1963 issue of Department of State Bulletin; and "Job Reinstatement: France and the United States," by Frederic Meyers, published in May 1963 issue of Industrial Relations.

Examines the impact of economic growth arising from factor accumulation or technical progress on the terms of trade of a growing country in a model that allows for the presence of intermediate products. Analysis of factor accumulation; Information on technical progress concerning primary factors.

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.

The article comments on the paper "An Economic Theory of the Growth of the Western World," by professors Douglas C. North and Robert Paul Thomas. The paper is related to European economic growth. The theory proposed by North and Thomas relies heavily upon three components. The first is a model for cyclical fluctuations in the pre-industrial economic life of Europe. This model defines the relative changes in the cost of land and labor as changes in population alter the ratio between the two. It incorporates the relative elasticities which have been found in the supply and demand curves for foodstuffs as opposed to those for raw materials and industrial products. North and Thomas then elaborate this last observation into the second major element of their model, a "theory of institutional change." The shifts in factor proportions so heightened the possibilities of profit from production for the market that they exceeded the costs of the institutional innovations needed to change the organization of production and distribution of income. The result was the steady introduction of "secondary" institutional changes such as enclosures, joint-stock companies, government support of certain guilds, and regulation of quality.

This article presents a list of papers related to economic history of Europe. Some of the papers are: "An early Garolingian Mint in the Low Gountries: Bona-Tiel," by M. Metcalf; "Financial Intermediaries and Economic Development, the Belgian Case," by R.J. Morrison; "Middeleeuwse sociale structuren. Enkele kanttekeningen,"by J. Mertems; "Dutch Theology, Trade and War: 1590-1610," by C. Bangs; and others.

The article presents a discussion on the periodical literatures of 1969. Some of the literatures include: "The Explanation of English Regional Differences," by G.C. Homans, "Economic Growth in England Before the Industrial Revolution: Some Methodological Issues," by R.M. Hartwell and "Size and Structure of the Household in England Over Three Centuries," by Peter Laslett. Homan contends, a narrowly economic explanation to see regional social differences in terms of technical and geographical differences and leads to generalizations for which the evidence is inadequate, though it maybe less so in the Middle Ages than in the sixteenth century. The vexed question of the extent of aggregate economic growth in pre-industrial England is brought into the open again in a challenging paper by Hartwell. Surveying the current position, he reminds that despite the accumulating knowledge, ambiguity and uncertainty still reign. He concludes with a plea for greater definition of the problems to be investigated, and for more concern with ways of making the results of inquiries comparable.

The article focuses on the paper "Mineral Resources and Economic Growth," by Andrew J. Freyman. In his paper, Freyman looks broadly at the evolution of the world's non-fuel mineral industries and the roles in them of public and private institutions. The article starts with a review of key statistical indicators of the dimensions of the industries. The cost of discovering a deposit of copper, lead or zinc ranges from $200,000 to $500,000 with the chances of its proving economical in the 1 to 50 range. Total costs of exploration may range up- to 10% of the ultimate cost of mineral output. The author catalogues the traditional sources of conflict in the mineral industries. Foreign companies are blamed for failure to develop local supplies of machinery, managing the environment poorly, various aspects of industrial relations, etc. On the other hand, host governments in many cases have not done an effective job of using earnings from mineral industries to develop the local economy so that greater integration of the mineral output with it would be economical.

The objective of this paper is to show how a high concentration of wealth and income influences the behaviour of savers and investors and, as a consequence, economic growth. The relationships among these variables to be presented below can be considered, at most, as hypotheses. They need to be validated through empirical research. Unfortunately, for the moment this is not possible, due to lack of data and the problems involved in their collection. As a partial substitute for such investigation it will be shown that several characteristics of the developing countries in which conditions of high concentration of income are assumed to exist can be considered logical consequences of the hypotheses presented here.
In the present paper a set of hypotheses with respect to the consequence of a high concentration of wealth and income were presented, and several conclusions were derived from them. Students of the economics of underdeveloped countries will observe that wealth and income are frequently assumed to be highly concentrated in those countries. Some of the consequences discussed here have been observed in those countries; for instance, investment in land, large amounts of resources hoarded in foreign banks, etc. These facts suggest that it might be worthwhile to continue the exploration of the theory above. [ABSTRACT FROM AUTHOR]

Comments on two articles regarding the promotion of economic development in less developed countries. Focus of the papers; Kind of agricultural price policy proposed by the paper of John Mellor; Opinion on the paper about the implementation of foreign agricultural aid.

The article presents the author's comments on "The Journal of Animal Ecology," vol. 9 and two books by H.C. Darby "The Medieval Fenland," and "The Draining of the Fens." The author believes that Averil Morley's paper on recolonization of burnt woodland by birds published in the journal is a useful piece of information about ecological succession of animals in Great Britain. He praises Darby for treating the economic development of Fenland in his two books with general interest.

The article presents information on several books on economic development and aid. The book "Reflections on American Economic Policy in the Middle East," by A.J. Meyer, presents a brief analysis of what the U.S. is doing in the Middle East and a longer dissertation on what should be done. The book "Time for U.S.A. to Husband Its Financial Strength," by Paul Einzig, suggests that the U.S. need no longer aid Europe and must, for the sake of the Free World's defense, put its own house in good economic order. The book "American Policy and the Free World Economy," By Bertrand De Jouvenal, analyzes American efforts at cutting inflation and how they have affected the free world. The book "Cultural and Personal Obstacles to Economic Development in the Less Developed Areas," By Philip M. Hauser, is an analysis of people in underdeveloped countries and the influence their characteristics have on the development of their areas. The book "Financing Economic Growth in Underdeveloped Countries," by Mustafa Ali Khan, discusses the economic problems of underdeveloped countries.

The article presents a reference guide for communist economic relations. 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. "The Economy, Liberty and the States," by Calvin B. Hoover, analyzes the economic systems of the West and of Russia and her satellites. "Can Free Enterprise and State Trading Coexist in International Commerce?" by Wolfgang Friedmann, discusses the degree of freedom and control in the foreign trade of several countries and how this limits trade to dealings within closely-knit groups of like-minded nations. "The Challenge of Soviet Power," by Allen W. Dulles, discusses the military, economic, and subversive threats of the U.S.S.R. "Economic Comparison: USA And USSR," presents comparisons on population and area, basic production, exports, living levels and military strength, of the two nations. In "Soviet Trade and Canadian Business," by J.G. Myers, many statistics are given to show the present and possible future effects of Soviet expansion into foreign trade on Canada's internal economy and external trade.

This article presents information related to economic development through know-how. A typical day with R.H. McDougall, Butler County agricultural agent, began with an hour at the office, going through his mail, clipping urgent notes to some letters and filing others for future reference. Included may be a staff conference aimed at seeing that problems are ironed out and that what should be done is done. Work in the office"wound up"--ready to run smoothly while he is gone--McDougall heads out into the country. He makes his rounds in a business suit, but he keeps a pair of coveralls and boots in the trunk of his car. This morning he may stop for a moment to check on the work of two technicians who are helping to improve the dairy herds of Butler County through the use of artificial insemination. His next stop will be to see the president of the local Farm Bureau. This he may have an appointment with the editor of the local paper or farm director of the radio station. This may be followed by a stop at a demonstration farm where the results of extra-heavy nitrogen applications may be checked.