This paper uses a Kaldorian framework to examine the evidence of deindustrialization in developing countries at low levels of income, the jobless growth in these economies and the fast expansion of the informal sector. The questions are specifically examined for the Indian economy, using state...

Centrally planned and administered economy and steep ascent strategy a complete failure -- Development economics-based strategy in less developed countries an incomplete failure -- A shift toward better understood (and appreciated) classical economic prescriptions an incomplete success --...