Abstract
A popular argument for extending the public sector and direct state action for economic development in many of the underdeveloped countries is that there is a shortage of private entrepreneurs. It is now increasingly recognized that many underdeveloped countries may be held back, not so much by a shortage of savings (and investment) but by a shortage of skills and knowledge resulting in the limited capacity of their organizational framework to absorb capital in productive investment.
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Reference
S. D. Mehta, The Indian Cotton Textile Industry (Bombay: The Textile Association (India), 1953, p. 84.
Charles A. Myers, Labor Problems in the Industrialization of India (Cambridge, Mass.: Harvard University Press, 1958) p. 26.
cf. Joseph E. Stepanek Managers for Small Industry, An International Study (Glencoe, Ill.: The Free Press, 1960). p. 6. “Recently India has produced some financial tycoons on the model of America’s robber barons, and they have not yet been transformed by public relations experts into industrial statesmen. But I think,” continues Helen Lamb, “the low esteem in which Indian business is held is much more deep seated. The goals and value system of business enterprise do not permeate Indian society, as for instance, they permeate our own U.S. community. Indian business has had to operate in a cultural milieu which traditionally holds an organic view of society somewhat like that of feudal Europe.” See Helen Lamb, Business Organization and Leadership in India Today (Cambridge, Mass.: Massachusetts Institute of Technology, Center for International Studies, 1956), p. 10. These observations, although made a decade ago, still appear to be quite valid.
Helen Lamb, op. cit.
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© 1968 Martinus Nijhoff, The Hague, Netherlands
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Prasad, S.B., Negandhi, A.R. (1968). The Small Entrepreneur and Economic Development. In: Managerialism for Economic Development. Studies in Social Life, vol 11. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-7499-2_7
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DOI: https://doi.org/10.1007/978-94-011-7499-2_7
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