ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

I G PatelSubscribe to I G Patel

India's Elasticity of Demand for Gold

This article is intended as an introduction to I G Patel's writings on India's gold problem, following the publication for the first time in this issue of his pioneering International Monetary Fund research paper, 'India's Elasticity of Demand for Gold', dated August 21, 1950. The introductory essay evaluates the paper as well as Patel's anonymous article, 'On Turning Gold into Base Metals', in Economic Weekly, July 1958 which analyses different modes of mobilising India's hoarded gold through incentives, compulsion and sustained propaganda. As a civil servant, Patel was also involved in various issues of gold policy. The article also underscores the contemporary relevance of Patel's pioneering research on gold, taking account of subsequent literature, and outlines a research programme, in consonance with the state of the art, to address the still unresolved problems of the analysis of gold demand and the mobilisation of gold for productive use.

Samar Ranjan Sen

One of India's foremost economists, Samar Ranjan Sen, who died on July 28, was, between 1948 and 1970, associated with the formulation of every aspect of Indian economic planning and policy. He could have, during those 22 years, got any assignment that he wanted with the FAO, UN or the World Bank, but he chose to remain at his desk in New Delhi. A remarkable contribution that he made was to establish agricultural research centres around the country.

On Privatisation

As early as the 1950s, H T Parekh, a doyen of the world of financial institutions, had argued for public-private partnership in such institutions as well as in oil exploration and other sectors, and saw the need to provide affordable financial support for basic needs such as housing. Fittingly, this first contribution to the H T Parekh Finance Forum is on privatisation and disinvestment

Calcutta Diary

I I was pained to read the Calcutta Diary by AM in your issue of March 4. Does the editor of Economic and Political Weekly, a public institution of some standing, have no responsibility to avoid giving publicity to writings in appallingly poor taste? Or, are we to believe that the editor sees...

Dynamic Search for the Optimum

Dynamic Search for the Optimum I G Patel India's Economic Reforms and Development: Essays for Manmohan Singh edited by Isher Judge Ahluwalia and IM D Little; Oxford University Press, Delhi,

Rich Advice, Poor Performance

Rich Advice, Poor Performance I G Patel The Indian Economy: Problems and Prospects edited by Bimal Jalan; Viking, New Delhi; pp 267, Rs 250. IT is difficult to think of a more timely and useful publication on India's economic problems and prospects than this one to which sixteen of India's most incisive economists have contributed. The editor, Bimal Jalan, has done a signal service not only in persuading such a galaxy of talent to write on their chosen fields of expertise He has also provided a coherent format for the entire volume Thus each piece contains a historical perspective; a neat presentation of all relevant facts and findings and unambiguous recommendations for the future, The style is concise and clear and, while not altogether non-technical, devoid of jargon. Where necessary, simple definitions are provided. The objective clearly is to be accessible to a wide spectrum of readership and one hopes that a much cheaper paperback edition would soon be available to serve this purpose better.

New Economic Policies A Historical Perspective

New Economic Policies: A Historical Perspective I G Patel While the main thrust of the New Economic Policy is no douot sound, so great has been the excitement about the new policies and the cloud of controversy surrounding them that there is great danger of our losing our sense of a proper historical perspective. Are all the new policies, for example, all that new? Is there nothing in our past behaviour and belief that is still relevant in the economic sphere? Do we need indeed to discard our entire mental baggage? What is the rationale of the New Economic Policy and what are the assumptions underlying - its superiority? And what are the prospects that reality will match the rhetoric or the theoretical rationale?

Fiscal and Monetary Policies for Development

Fiscal and Monetary Policies for Development I G Patel Fiscal and Monetary Policies and Problems in Developing Countries by Eprime Eshag; Modern Cambridge Economics Series, Cambridge University Press, Cambridge, 1983; ppxiv + 287.
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