By E. Polak
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One 38 KEYNES AND ECONOMIC DEVELOPMENT needs to feel assured that there would in practice be improvements, after allowing for lack of proper data to those running an 'administered' system, and for human shortcomings. 2. PLAN OF THIS PAPER I have found it surprisingly difficult to devise a logical plan for a paper with the tide originally agreed 'The Relevance of Keynesian Ideas in Developing Countries'. If a developing country had a number of discrete problems, and each of these was to be tackled by a separate remedy which had no other effects, then it would not, in logic, be too difficult to consider what sorts of basic ideas were most fruitful in suggesting good remedies for the problems, or perhaps to say which types of problem were best tackled from one approach, and which from another.
Worswick and Trevithick, 1983, p. 132). Ultimately, the plan was not adopted because of opposition from the Bank of England and the Ministry of Agriculture for different reasons. 9 Over forty years on from Keynes's war-time proposal, primary product price fluctuations still plague the world economy. The world still lacks the requisite international mechanisms to rectify what is a major source of instability for the world economy leading to inflation and depression. From 198084, for example, primary product prices fell on average by 24 per cent, and this was a major cause of the international debt crisis in 1983 which still lingers.
F. (1948) Towards a Dynamic Economics (London: Macmillan). F. (1951) The Life ofjohn Maynard Keynes (London: Macmillan). Hirschman, A. (1981) 'The Rise and Decline of Development Economics', in Essays in Trespassing: Economics to Politics and Beyond (Cambridge: Cambridge University Press). Johnson, E. (1971) The Collected Writings ofjohn Maynard Keynes, Vol. xv. Activities 1906-1914 India and Cambridge (London: Macmillan). Johnson, E. M. Keynes, Vol. XVII: Activities 19201922, Treaty Revision and Reconstruction (London: Macmillan).
Computational methods in optimization; a unified approach by E. Polak
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