ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book presents various policy dimensions of contemporary international issues of political economy especially pertinent to North-South relations. It describes the position and prospects of the non-oil producing less developed countries (LDCs). The book discusses the conditions under which the LDCs may stand on their own and participate in the world economy as equal partners. It addresses the issue of growth and income distribution policies. The book also addresses the issue of the effectiveness of public expenditures to enhance social welfare by using data on public education and health expenditures in Brazil, Columbia, and Ecuador. It examines the major bargaining issues of the North-South dialogue and various proposals that have been made. The book also presents a theory of power and the international distribution of rights and resources.
