Introduction

Abstract

The main issues of the book are discussed. The main focus is the development of low-income economies towards catching up with high-income economies, which includes discussion on the major cultural and social changes involved, the choice of economic system – discussing the optimum combination of market, state and community and issues such as the role of technology borrowing as a major means for low-income economies to catch up with advanced ones and identifying the possible means to facilitate this process. While special focus is placed on low-income economies, ‘developing economies’ at various stages of development are covered in broad terms.