Since the summer of 1982 the banking community has been faced with an international debt crisis of unprecedented dimensions. The debt rescheduling agreements that have been negotiated since then involve sums totalling no less than $ 100 billion. However, they give the international financial...

Though even in such cases there may be different opinions, it appears fairly obvious under what conditions a business is excessively indebted. However, there is hardly any agreement on the point where an entire national economy ought to be considered as overindebted. The present article...

On the face of it it looks as if there should be no great difference between less developed countries (LDCs) and the advanced national economies as far as planning is concerned. And yet in reality such differences do exist, even if they do not necessarily stem from the inequalities in the...