Development failures are less the result of "natural" short-comings, but are caused instead by false conceptions and by the misapplication of experience from highly-developed economic systems to countries in the initial development stage. The following article points out the pit-falls and...

In September 1973, the President of the World Bank, Robert S. McNamara, made a challenging address to the Governors of the Central Banks of the member states of the international Monetary Fund. The main subject in his speech was the problem of poverty particularly in rural areas of developing...