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

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Monetary Approach to Balance of Payments

the system for a while. Social action and judicial intervention may slightly improve the working and living conditions of some and may bring them within the system to some extent. But all this docs not (to my mind) invalidate the broad distinction proposed by me. Those within the system have a role to play in the system (however small), some minimal degree of control over their lives, some possibilities of collective action to improve their conditions, some rudimentary safety net of social security to fall back upon, some faint hopes of a brighter future and of upward mobility. Those who are outside the system have none of these things: they can only drift helplessly along; they have no voice in any matter; they are hopelessly at the mercy of those within the system.

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