In the rural economy land is the site of production. Our villagers live and work with close relationship with nature; they love and adore nature. Intensification of resource use and diversification of occupation (even if we call it as technological advancement) pose serious challenges to balanced...

The purpose of this paper is twofold: first, to discuss the theoretical foundations and policy implications of two of the offshoots of modern macroeconomics viz., supply-side economics and rational expectations; and second to evaluate the recent development of thinking in macroeconomics. Thereby...