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Economic policy efficiently:
The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but the under-utilisation of these resources. Today, developing countries are not utilising more than 15 per cent of the potential capacity of human beings, owing to inadequate expertise and deficient systems of public administration. The people inhabiting the developing world expect their governments to pull them out of the morass of distressing underdevelopment. This would be possible, provided the efforts of the governments in the developing countries are comprehensive, and selective. Besides, timely action backed by a strong will and determination at all decision-making and operational levels alone can change the complexion of our socio-economic scene. However, personnel must realise that development must be indigenous and not based on foreign models. After over a quarter of a century's experience and experiments with development models based on Western systems, we find that this model stands as 'the God that failed'. Noble Laureate Ian Tinbergen has said: "The poor countries should reject the aim of initiating Western patterns of life. Development is not a linear process, and the aim of development is not to catch up, economically, socially, politically or culturally. Many aspects of Western life have become wasteful and senseless and do not contribute to people's happiness. For poor nations to attempt to imitate the rich may only mean that they trade one set of problems for another and in doing so discard or destroy much that is valuable in terms of their human resources and values." Thus, the personnel administration must take note of the fact that the final aim of development must be the constant increase in the well-being of the entire population on the basis of its full participation in the process of development and a fair distribution of benefits therefrom.
Capital Account: The Capital Account presents transfers of money and other capital items and changes in the country's foreign assets and liabilities resulting from the transac
How does production possibility curve help solve central problems?
prove that the utility approach and the indifference curve yield the same consumer equilibrium.
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
derivation of demand curve
What are the main causes of unemployment? Two main paths are available; demand-deficient unemployment and real wage unemployment. After explaining unemployment (percentage o
Is it possible to get an expert to check my homework before I submit it?
Determinants of the Income Elasticity of the Demand: The determinants of income elasticity of demand are given below: The Degree of necessity of the commodity.
Stock Market: A place where shares of joint stock corporations are sold andbought. Most modern stock markets no longer have a physical presencehowever rather connected computer net
Return on Equity: It's a measure of business profitability equal to net after-tax income divided by average level of shareholders' equity in the business. Sales Tax: A tax im
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