ABSTRACT
This volume is based on two propositions, the first innocuous, the second less so.
(i) An economy with a flexible structure, which can readily adjust to the needs of the time, will achieve faster development than an economy with a rigid structure. Inflexible economies can expect retarded growth, with disjunctures between demand and supply creating bottlenecks, balance-ofpayments strains, inflationary pressures and other economic dislocations.
