There is widespread agreement among economists that market prices, including exchange rates and interest rates, are not reliable measures of social costs and benefits.


Furnace Income Estima Monopoly 


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    Tinbergen, Jan, Design for Development (Washington: Economic Development Institute, IBRD, 1955);Google Scholar
  2. Little, I. M. D. and Mirrlees, J. A., ‘Project Appraisal and Planning for Developing Countries’ (Heinemann, 1974).Google Scholar

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© Alec Cairncross and Mohinder Puri 1976

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  • Alec Cairncross

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