Good Reason for Confidence

3 For details on this concept, see John A King, "Economic Development Projects and Their Appraisal", John Hopkins Press, 1967.
4 The money incomes of these graduates need not reflect their marginal productivity to the society. Of these graduates, 65 per cent were employed by government agencies and 10 per cent by universities. Since we do not have information on tin"co-efficient of inefficiency" we assume that they arc worth the wage they are getting from the society. In our calculations, non- pecuniary returns are not taken into account.