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Economic Theory and Development Policy
An Interpretation of Economic Backwardness
The Classical Theory of International Trade and the Underde
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advanced countries allocation of resources analysis approach argument Asia backward countries brain drain Burma and Indonesia capital consumers controls demand developed countries development plans domestic market dualism dynamic economic activities economic development economic growth economic policies economic theory economic units economists enterprise exchange economy existing export production factors of production favour foreign exchange further given import import-substitution increase India infant industry infant industry argument internal economic international trade investment laissez-faire Malaya manufacturing industry manufacturing sector market mechanism ment methods mines and plantations modern sector money economy natural resources nomic optimum orthodox output pattern peasant export Philippines primary education problem protection protectionist rate of economic rates of interest shortage skilled social overhead Southeast Asian countries static subsistence sector supply surplus labour surplus productive technical tend terms of trade Thailand tion traditional sector underdeveloped coun underdeveloped countries universities wages welfare economics