Challenge of Technology

  • Alasdair I. MacBean
  • V. N. Balasubramanyam
Part of the Trade Policy Research Centre book series (TPRC)


Fashions wax and wane in development economics. The so-called ‘neo-classical’ model with its emphasis on savings rates and capital accumulation is now an old shibboleth. The ‘vicious circle’ breakers and ‘big push’-ers have had their moments of glory. The strategy of import-substituting industrialisation has not resulted in the hoped-for El Dorado. Technology is the new deity to which policy makers and economists are making obeisance these days.


Foreign Firm Science Policy Factor Price Factor Endowment Minimum Wage Legislation 
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Copyright information

© Alasdair I. MacBean, V. N. Balasubramanyam and the Trade Policy Research Centre 1978

Authors and Affiliations

  • Alasdair I. MacBean
    • 1
  • V. N. Balasubramanyam
    • 1
  1. 1.University of LancasterUK

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