Articles by B V Krishna Murti

Supplanting Peasant Agriculture with Plantation Economy B V Krishna Murti But a bold peasantry, their country's pride, when once destroyed, can never be supplied. Oliver Goldsmith GVK RAO was formerly a member of the Union Planning Commission and is currently the vice-chairman of the Karnataka Economic and Planning Council. He is a wise man in high position influencing (together with a few other wise men like him) development policies of the Union and state governments. And now he has made some major pronouncements that would have a significant impact on the lives of hundreds of millions of people in the country and their life-supporting ecological endowment in the immediate and, subsequently, on the vitality of the nation itself.

As flies to wantow boys are we to th' gods They kill us for their sport Shakespeare Organisational Element in Economic Growth ECONOMIC ACTIVITY, however simple, implies organisation. Robinson Crusoe, in his totally self-contained situation, had to organise carefully the utilisation of his time and resources towards realising his different objectives. Adam Smith taught vis that the beginnings of economic growth were brought about through the discovery of the virtues of exchange that facilitates division of labour and specialisation of functions. The organizational framework of exchange enables tr\e operation of reciprocal forces of supplies and demands; supplies of goods in demand by others providing the purchasing power to demand the goods produced by others. The awareness of the all-round benefits of exchange soon led to rendering the exchange system more efficient and more pervasive through the in- troduction of money as a standard unit of exchange.