TITLE

RIVAL ECONOMIC THEORIES IN INDIA

AUTHOR(S)
GalbraiIth, John Kenneth
PUB. DATE
July 1958
SOURCE
Foreign Affairs;Jul58, Vol. 36 Issue 4, p587
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article presents various facets of the Indian economy. The economic life of the village is preoccupied with the production of food. And so, therefore, is Indian economic life as a whole. Approximately half of India's gross national product is made is made in agriculture, and approximately seventy percent of the people are directly dependent on agriculture for their livelihood. India has long had an excellent transportation network, by far the best in Asia. There is a highly developed urban trading community. And long before Independence, India had a large and efficient cotton textile industry, the world's principal jute manufacturing industry, a small steel industry and some development in other fields. The Indians are indeed engaged in an imaginative and energetic effort to expand their economic plant and its output. Both by choice and by necessity they are doing much of this under public auspices. Yet, by almost any test, the economy of India is less responsive to public guidance and direction than that of the United States.
ACCESSION #
14734615

 

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