# Kaushik Basu

Kaushik Basu is Professor of Economics and holds a chair at Cornell University.

## Analytical Development Economics

The Less Developed Economy Revisited

Virtually all industrialized nations have annual per capita incomes greater than $15,000; meanwhile, over three billion people, more than half the worlds population, live in countries with per capita incomes of less than$700. Development economics studies the economies of such countries and the problems they face, including poverty, chronic underemployment, low wages, rampant inflation, and oppressive international debt.

## India's Emerging Economy

Performance and Prospects in the 1990s and Beyond
Edited by Kaushik Basu

India's economy over the last decade looks in many ways like a success story; after a major economic crisis in 1991, followed by bold reform measures, the economy has experienced a rapid economic growth rate, more foreign investment, and a boom in the information technology sector. Yet many in the country still suffer from crushing poverty, and social and political unrest remains a problem.