The New Economics of Growth: A Strategy for India and the Developing World
India has tried to modernize by concentration on large-scale government-run capital-intensive industry; this is wrong, the author argues. Let the market govern a more labor-intensive, decentralized industry, while imports of fertilizer and technology increase agricultural productivity. There will be more food for the poor, who will find more jobs in small-scale labor-intensive industry, which will export consumer goods to pay for the imports needed to produce more food.
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