An Economic Policy for the New Government

An Economic Policy for the New Government Amiya Kumar Bagchi A more egalitarian and more self-reliant growth path might lead to a decline in the growth rate in the short run as the economy adjusts to lower imports and a different structure of production. But as the endogenous process of technology acquisition, absorption, diffusion and local adaptation gets going and as more and more people are productively employee!, the rate of growth will pass that achieved under the inequalising spiral strategy and, besides, will be more sustainable in the long run.