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The authors aver that if development is initiated at the local
level, to be dovetailed with development at the regional, state
and global levels, keeping in view the resources available in
the local area, it will avoid the occurrence of economic
imbalances and disparities. Certain political observers even
trace the September 11 tragedies in the USA to the ‘haves and
have-nots’ created by reckless production and uneven
distribution of economic wealth. In such a situation this book,
which contains both theory and practical exercise material based
on real-life studies, is a must read for the development
planners, economists, administrators and political practitioners
of any country, particularly the democratic ones.
On the positive
side, in recent times scientific and technological advancement
has impacted the strategies of economic development. The trend
now catching up is to promote indigenous area-specific projects
for developing the economy from within and linking it to the
regional and global economic fabric. Another trend of recent
times is non-governmental organisations (NGOs) taking up
developmental programmes in collaboration with local governments
and other semi-government bodies for the benefit of society.
This 398-page,
paperback is divided into 14 self-contained chapters. It has
elaborate case studies and exercises explaining the
applicability in real-life situations. New ideas for local
economic development in various streams like housing, women and
enterprises, cooperatives and tourism, have been well placed. To
quote only one chapter (2), "Towards a national and state
policy agenda", monetary, tax, trade, welfare, healthcare,
and employment policies and local economic development have been
critically examined among others; all this in the context of the
USA, with sound opinions of prominent economists and
philosophers and solutions and suggestions. Interestingly, the
authors have developed such conceptual parameters and
definitions of the developmental process that the reader/student
may easily remember them for long. Five Ms — materials,
manpower, market, management and money—the key resources of
development, are such examples.
The book is an
offbeat work in the realm of economic development studies and
techniques. That the book is running in its third edition within
a span of nearly one year speaks for its wide acceptability.
Students and teachers of economics and administrators charged
with economic development stand to gain extensively their
knowledge by from book.
While there is no
doubt the book is addressed to the Americans and is stuffed with
exercises and case studies of the American scenario, the new
economic theories/tenets and case studies in the book have a
universal appeal and applicability. Planners in countries like
India that are itching for developmental strides are sure to
gain from strategies and devices brought out.
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ENAMOURED
by its socialist system, India initially adopted Russia’s model of
‘planning and development’. While Russian ‘planning’ sank
with the collapse of the Soviet States in the 1980s, planning in
India has not taken roots, which is evident from the fact that most
of the approved economic development plans go awry and the non-plan
expenditures keep bulging year after year. More so, the impact of
much cherished "planned development" has not percolated
down despite the government’s clamouring that panchayats should be
involved in the ‘development plans’.
