Economic Development and the Price Level

Economic Development and the Price Level

Economic Development and the Price Level

Economic Development and the Price Level

Excerpt

The theme of this book was suggested to me by Professor Simon Kuznets during my tenure as Fellow in Political Economy at the Johns Hopkins University, Baltimore, in the academic year 1957/8. Some preliminary work carried out at Johns Hopkins enabled me to read a paper on inflation and growth at a Conference on Economic Development sponsored by the Department of Economics and The Institute of Latin American Studies of the University of Texas in April 1958; and in the course of the next two years the substance of this paper was expanded into its present form.

I am greatly indebted to Professor Kuznets for his kindness towards me, and for his help in my work, during my stay at Johns Hopkins. I have also received constant encouragement and assistance from Professor Brinley Thomas who read an early draft of the book. Professor Phelps Brown was kind enough to read and criticise a paper setting out some of the arguments now appearing in Chapter VI; and Mr. Esra Bennathan of the University of Birmingham made some valuable suggestions, as well as drawing attention to some useful sources of information.

I am also indebted to the University of Texas Press for allowing me to reproduce the substance of a paper 'Inflation in Economic Development' published in Economic Growth: Rationale, Problems, Cases (Proceedings of the University of Texas Conference on Economic Development, edited byEastin Nelson), and to the Editors of Oxford Economic Papers for allowing me to include certain passages and statistics from my article 'Inflation and Growth: Some Lessons to be drawn from Latin-American Experience' appearing in the June 1961 issue of the journal.

GEOFFREY MAYNARD

University College Cardiff . . .

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