Growth with Justice: A Compendium of Papers Presented for National Seminar on Growth with Justice

While a rapid GDP growth rate is a necessary condition for well-being, it is by no means a sufficient condition. Economists have long accepted that the market may be a very efficient allocator of resources to maximise output but not an adequate dispenser of social justice.

GDP growth depends very materially on the commodity producing sectors of agriculture and manufacturing industry performing much better than now and in a more consistent fashion. This is, of course, possible; but the chance...