ABSTRACT
In all the examples considered the concept of the wholeness of a country’s economy receives ample justification. Industrialization alone can provide no panacea for economic backwardness and poverty for it is but one form of development and its advance is closely related to that of the other sectors of the economy. Infatuation solely with industrialization can bring dire results as the recent history of Argentina shows and, nearer home, the case of Yugoslavia whose agricultural exports withered away with programmes of over-Industrialization that ignored the agrarian sector. In 1950 when Yugoslavia suffered famine it was discovered that only 70 per cent of the arable land was being cultivated through lack of incentive because of low price ceilings relative to industrial products and heavy taxation. There is no hope of success for any country if economic advance is one-sided.
