, China and India. It begins with a clarification of the meaning of industrial policy, since not only does the term mean … are explored, while the contrasts of India's development, and the distinction between liberalization and reform are …

income inequality. It can also help to prevent a general decline in the level of nominal wages and deflationary developments …. For almost two decades now Japan has been suffering from deflationary tendencies triggered by falling nominal wages and … the question of minimum wages are summarised. We concentrate on the neoclassical and Keynesian paradigm. Then …