The Market and Structural Change

Keith Griffin and Jeffrey James

Chapter 2 in The Transition to Egalitarian Development, 1981, pp 12-23 from Palgrave Macmillan

Abstract: Abstract In the previous chapter we argued in favour of the necessity for rapid structural change if the incidence of poverty and inequality in the Third World is to be reduced significantly within a reasonable period of time. Yet rapid structural change, almost by definition, implies major disruptions and dislocations to the normal functioning of the economic system. Indeed, it is widely assumed that a rapid move in the direction of equality will lead inevitably to the disorganization of production and marketing and hence to a decline in the total volume of goods and services available for distribution. These assumptions or beliefs, in fact, have long been the cornerstone of the argument of those opposed to redistributive measures.

Keywords: Foreign Trade; Relative Price; Excess Demand; Price System; Relative Prex (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05914-0_2

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DOI: 10.1007/978-1-349-05914-0_2

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