Have The Cake And Eat It Too? Saving, Inflation And Economic Development

Joachim Ahrensdorf

Economics and Finance in Indonesia, 1953, 612-624

Abstract: More attention and more effort have been devoted tf the economic development of backward countries in recent years than ever before. Numerous books, reports, and articles have been written on the subject and many international missions have made "on the spot" surveys and have published recommendations. All resulting recipes for economic development essentially boil to a commonplace: economic progress can only be achieved by raising the .productivity of labor. This, in turn, can only be accomplished by a higher rate of capital formation.

Date: 1953
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