Economic Theory and Its Applications

This is a collection of essays on modern economic theory and its application to Indian economy. Some essays are only theoretical in content: and the efforts in application are not made as this is to be contemplated in future. The essays included in Economic theory and its Applications were written by the author during the period 1963 to 1984, and they contain continuity and development of ideas in the light of the advancement made in social science all over the world. The essays on the concept of the alfuence line is a new theoretical formulation which the author wrote in 1984. This theoretical sketch deserve attention in an spoch when so much is written about the poverty-line and related subjects there are there essays on the economic theory of the French economist Francois Perroux and its applications. In India today, the idea of human resources development has suddenly been relised. The essay on Perroux and humank resources, contains one of the best interpretations of the theortical aspects of human resources made by the author. Perroux has proposed an alternative to the Manifesto of K. Marx and F. Engels; and it is worthy to examine this alternative of the French economist . “Human beings of all countries, unite I” this is the 1974 proposal of Perroux. The Communist Manifesto of 1848 cried out : “workers of the world, unite I” Perroux’s theory of dominant economy is exposed and applied to the case of the Indian economy of the past. This theory was originally proposed in 1948. Again the theory of influence of structure (I’em-prise de structure) of Perroux (proposed in 1969) is explained and applied to India’s foreign trade (of recent years).