CONTENTS Preface to the Paperback edition vii Preface to the Viking edition ix Introduction xi 1. CONTROLS, REGULATIONS AND THE STATE 1 Jobs, Wages and Trade Recent Developments Governments and Markets 2. THE PUBLIC SECTOR 19 Government Borrowings and Public Sector Losses Experience of Some Developing Countries The Question of Privatisation Public Sector Reforms in India 3. FISCAL POLICY 46 The Expenditure Explosion A National Policy for Expenditure A Constitutional Limit? Tax Reform 4. GOODS AND SERVICES 68 The Services Revolution Revitalisation of Industry Investment in Agriculture 5. TRADE, INVESTMENT AND CAPITAL FLOWS 91 Effects of Trade Isolation Trade Policy Options Import Policy for Consumer Goods Multinationals : Demons or Angels? Foreign Capital: Lessons of Mexico Management of Capital Flows 6. THE SOCIAL SECTORS 132 India's Record Food Security Education for All Health Services for the Poor Epilogue 176 Index 206