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Suraj B GuptaSubscribe to Suraj B Gupta

Without a Theoretical Frame

to be difficult of adoption in place of the present annual bonus. This, of course, is simply not so. Various competent bodies have considered this idea very fully and have cogently pointed out the difficulties in adopting it. None of these difficulties are seriously reckoned with by any of these champions of productivity bonus.

Money Supply Analysis-A Reply

Subhas C Bose. 56 Home (Poll) February 1920, Progs No 373 (B). P C Barrford ''Histo- ries of the Non-Co-operation and Khilafat Movements", Delhi, 1925 Ch III.

Factors Affecting Money Supply- Critical Evaluation of Reserve Bank s Analysis

The Reserve Bank of India has been publish ing for quite some time its analysis of factors affecting money supply in India in its Bulletin. This analysis is carried over in toto in all official, and academic, publications and discussions on the subject. Presumably, it also serves as a basis for the formulation and evaluation of monetary policy.

Money, Employment and Growth

Money, Employment and Growth HOW to ensure monetary (price) stability with high rates of employment and growth in an economy? Monetary economists differ among themselves m their answers. Monetarists among them emphasise the crucial importance of controlling appropriately variations in the stock of money. Non-monetarists among them insist that what matters is not the stock of money but the overall liquidity of the economy and the accompanying level and structure of interest rates as well as the availability of credit. Bani Majumdar draws upon the elements of both the approaches without carefully distinguishing between them or spelling out how the two approaches can be married to each other. The result is a confused piece of monetary analysis without a clear sense of direction.

Credit Policy, Interest Rates, Central Banking and All That-A Comment

 Credit Policy, Interest Rates, Central Banking and All That Suraj B Gupta II T PAREKH ("Credit Policy, Interest Rates, Central Banking and All That", May 25, 1974, pp 839-41) has come down heavily on the monetary and credit policy prescriptions of academic economists. His critique suggests that he has not invested enough effort to understand the economist's case for his policy recommendations. It is, therefore, appropriate to spell out the case briefly, and then to provide the economist's counter to Parekh's arguments for an easy and cheap credit policy in the present inflationary situation.
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