The first thing to be said about this excellent book is that it is written at least as much for laypeople as for professionals. With the exception of an occasional technical term such as “externality” and inevitable references to Marxian expressions that have special meanings, there is...

Weitzman's book is short, lively, written for non‐economists, and persuasive. Starting with doubts over reported versions of the Weitzman thesis, this reviewer became convinced that its simple message was at least worth serious consideration. Many others have doubtless had thoughts along...

The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the economy is dominated by primary exports, by the importance of the domestic bond market and bank credit, by the...

Unequal Exchange (L'échange inégal) by Arghiri Emmanuel attempts a Marxist treatment of trade between poor and rich countries. Published with it are four appendices in which Charles Bettelheim and Emmanuel debate the issues raised by the main work, and a fifth appendix in which Emmanuel...

Curbing (without banning) potentially environmentally‐damaging activities that have global, rather than local, effects raises challenges analogous to those faced by a community lacking legislative powers that has to restrict access to a common pasture in order to make its use sustainable. A...