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

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Vital Issues in Development

to differentially affect different groups and classes in society. This may be both the latent purpose and the means by which the 'success' of this strategy is achieved. Thus, in some Latin American countries, a drastic curtailment of the power of organised trade unions may be the major institutional change brought about, so as to increase the relative strength of the capitalist class. In other countries, as in India, the burden is likely to fall more heavily on unorganised groups, even as organised workers also lose their rights and their bargaining strength. A relative enrichment of those with access to social and political power is usually concomitant with this package even while the disadvantaged sections become worse off. More unequal income distribution is both a result and a symptom of this process in all cases. Concentrating simply on aggregating macro-economic variables may obscure this important tendency.

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