The less developed countries (LDC) present two kinds of challenge to economists. First, they invite us to develop hypotheses about how economic growth begins and about structural changes during the early decades of growth. Second, they provide a fresh terrain on which specialists in particular...

The number of American economists who have been to China is about equal to the number of astronauts who have been to the moon, so each returning traveler can add something to our limited knowledge of that vast and complex country. These notes are intended to supplement the reports of previous...