The Colombo Plan: And Other Essays

The Colombo Plan: And Other Essays

The Colombo Plan: And Other Essays

The Colombo Plan: And Other Essays

Excerpt

These five essays all deal with aspects of the same subject: the economic problems of underdeveloped countries, especially in the Far East.

The first essay, The Colombo Plan, was written for this volume. The second, Deficit Finance in Asia, appeared in Lloyds Bank Review for January 1955, and is reproduced with the permission of the Bank. The third, 'Protection and the Underdeveloped Countries', was given as an address to the Free Trade Union and was published in the Free Trader for February 1956. The fourth, 'On Stabilizing the Prices of Primary Products', was my inaugural lecture as Henry Price Professor of International Economics at Chatham House, given in November 1955. The fifth essay, 'Over-population', was added to this little volume as I think the subject of such overwhelming importance that it demands specific discussion, even though I have little that is new to say about it.

Since these essays were written, India has published her new Five-Year Plan. This involves a large increase in public expenditure and lays more stress on industrialization, which will account for about a quarter of the total expenditure. In particular, three new integrated steel plants will be constructed for the Government with the aid of foreign capital and technique. (The United Kingdom is assisting with one plant, Western Germany with another, and Russia with the third.) The new Plan for Pakistan, on the other hand, is devoted mainly to in-

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