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Anne Conway on Substance and Individuals,rces are allocated efficiently subject to certain constraints. In our earlier discussion of resource allocation we were more concerned with the investment criteria that should be applied in the light of particular goals than with the efficiency with which resources were to be used, or whether the ap

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Plurigaussian Simulations in Geosciencestional trade and foreign borrowing, capital formation is only possible through abstinence from present consumption and when society produces a surplus of consumer goods sufficient to meet the needs of labour engaged in producing capital. In a subsistence (Robinson Crusoe) economy, saving and investm

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https://doi.org/10.1007/978-3-031-68221-6elopment process will be considered, together with the debt-servicing problems associated with it, and particularly the debt ‘crisis’ of the 1980s. Later, we shall consider types of foreign assistance including bilateral assistance from the developed countries, multilateral assistance from the World

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Development and Underdevelopment the student today it will be difficult to appreciate that as recently as thirty years ago a course in development economics was a rare feature of an undergraduate programme in economics, and that textbooks on economic development were few and far between. Today no self-respecting department of econ

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Land, Labour and Agricultureumed into capital. There are two main reasons for this. The first is the traditional classical notion of land as a fixed factor of production, which in the long run is undoubtedly true. The second is the practical fact that land without the application of capital is of little use, justifying the tre

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