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Growth with Justice: A Compendium of Papers Presented for National Seminar on Growth with Justice

Growth with Justice: A Compendium of Papers Presented for National Seminar on Growth with Justice

Paperback

Series: Lead Trust Seminars, Book 1

Economics

ISBN10: 1519227078
ISBN13: 9781519227072
Publisher: Createspace
Published: Mar 31 2016
Pages: 328
Weight: 0.97
Height: 0.69 Width: 5.98 Depth: 9.02
Language: English

While a rapid GDP growth rate is a necessary condition for well-being, it is by no means a sufficient condition. Economists have long accepted that the market may be a very efficient allocator of resources to maximise output but not an adequate dispenser of social justice.

GDP growth depends very materially on the commodity producing sectors of agriculture and manufacturing industry performing much better than now and in a more consistent fashion. This is, of course, possible; but the chances of achieving such a growth rate require the stepping up of domestic investment rather steeply and an all round increase in factor productivities, together with more employment of labour. Further, productive, distributive and social justice must be ensured for a real development and an overall well-being.

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Economics