ABSTRACT
The problems of development which the economists want to see in the light of world economy, it has beer, suggested, might better be seen in the light of world political developments. The international political scene was riot so much delineated but it was suggested as a possible source of some of the difficulties of development. Economic models at least form a skeletal framework to which one may attach the institutional flesh, sinew, and muscle essential for its motion, Analysis of saving, investment, and technological change, for example, highlights the role of the entrepreneur in development. The problem is the absence of an institutional context capable of focusing the potential energy and drives of individuals and groups on the production of the goods and services which generate sustained growth. Moreover, the stimuli for economic development are ubiquitous to the point of being overbearing. They no doubt are not so effective as they once were in transmitting the forces for autonomous industrialization.
