Volkswirtschaftslehre (3 Titel)
Bhole, L. M.
Collected Papers on Credit and Finance, Collected Papers, Vol. 2
Verlag: Amani International Publishers
Excerpt (Capital Market As Infrastructure, p. 1): Economic growth of any country depends, among other things, on the existence of highly developed infrastructure. Infrastructure refers to the system of public services which may be said to form the basis of development. Transport, power, communications, irrigation, educational institutions, are some of the constituents of the overall infrastructure of the economy. If these economic overheads are absent or highly underdeveloped, a number of bottlenecks would emerge in the normal process of economic growth, with the result that growth would suffer either in speed or in size. From this point of view, a well integrated and efficiently functioning capital market is essential in order to increase the rate of capital formation which, in turn, is a basic precondition for the economic growth.
The process of capital formation has two aspects: firstly, there should be some individuals in the community who would prefer future consumption to present consumption. Secondly, savings generated thereby should be converted into productive capacity by way of acquiring productive physical assets. In olden days, when enterprises were owned mainly by those who undertook them, this dichotomy between those who would save and those who would invest was not very significant. But as the economic system became more complex, the management and the ownership of enterprise were divorced from each other.
Bhole, L. M.
Collected Papers on Gandhian Thought, Collected Papers, Vol. 3
Verlag: Amani International Publishers
Excerpt (Introduction, p. 1) If one ruminates over the question, what India has tried to achieve during the Twentieth Century, one finds that while her aim during the first half of the Century was Political Independence, it was Development during the second half. Whereas there was no ambiguity about the meaning and content of the first goal, there has been no such unambiguity about the meaning and content of the second goal, and about the method or strategy to achieve it. When India launched her “Development Enterprise” in 1951, “there was a legacy of pre-independence debate on India ’s development problems. This debate centered around the Gandhian approach, at one pole, and the ‘modernizing approach’ of Nehru at the other. The Gandhian approach has never been seriously discussed by either mainstream economists or by its left-wing critics ... both have largely accepted a ‘commodity centered’ approach. Thus, ... more goods are preferred to less; and a higher level of capital stock per worker has been considered unambiguously helpful in improving the standard of living” (Chakravarty, 1987, p.7). In other words, India embraced the Western Model of Development for rebuilding the Nation, and as a part of it, she has evolved a mixed economic system, with greater emphasis on Central planning till about 1985, and on progressively greater marketization thereafter.
Bhole, L. M.
Unemployment, Inequality, Entrepreneurship, and other Collected Papers, Collected Papers, Vol. 4
Verlag: Amani International Publishers
Excerpt (Introduction, p. 1) Many people fear that the New Economic Policy (NEP) introduced in June 1991 by the Government of India would further aggravate an already acute unemployment problem in India. In order to understand this issue, it may be useful to know about the working of special Unemployment Alleviation Programmes, Schemes, Yojnas which have been implemented in India over the past 20/25 years, and about the impact of NEP on these programmes. The objective of this paper, therefore, is to present a systematic review of the operation of these programmes, and to critically discuss the prospects for and approach to them under the NEP. The paper is divided into five sections. In Section I, the origin, evolution, objectives, and main features of special Unemployment Alleviation Programmes (UAPs) are described. The quantitative and qualitative evaluations of the performance of these programmes are presented in Section II and Section III, respectively.
The NEP’s approach to these programmes is examined in Section IV.
The summary and conclusions arc presented in Section V.