Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

V. G. Bhatia

Abstract

Even though the acceptable practice for measurement of the level of economic development of a country is in terms of per capita income, the fact that this measure may not be quite satisfactory has been pointed out already, among others, by Haberler. In this paper an alternative measure has been suggested. We wish to examine whether it would be more meaningful to compare the level of development of an economy with its own 'developmental potential'.

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