Unnayaner Orthonity: An inroad into economic domain of Bangladesh in Bangla
Saturday, 20 November 2010
Unnayaner Orthonity, Rizwanul Islam, University Press Limited, Dhaka, July 2010, Tk. 375, pp. 220, ISBN 978 9848815663
Prominent development economist Amartya Sen won the Nobel Prize in 1998. He is the author of Development as Freedom. Freedom, Sen argues 'is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population…In the new global economy… the contemporary world denies elementary freedom to vast numbers… it is still possible to practically and optimistically restrain a sense of social accountability.' The Nobel Laureate brought 'ethical dimension' to the technical field of study.
Unnayaner Orthonity is about Development Economics. It is a branch of economics that deals with economic aspects of development process in low-income countries. It focuses on economic growth and structural change with emphasis on improving potentials for mass population through public/private channel in health, education, employment and others.
Of the eleven sections in the book the most exciting to read is the concluding one titled: What kind of economic growth is Bangladesh attaining? Based on Islam's paper presented at an international seminar on 'Development Prospects of Bangladesh: Emerging Challenges' organised by the Bangladesh Institute of Development Studies in Dhaka, December 2 and 3, Golden Jubilee celebration in 2007. The impact of the global economic crisis cancelled the country's GDP growth rate at 7.0 per cent as projected by the Asian Development Bank. Table 11.1 makes clear the GNP per capita 2005 in Bangladesh US$470, India $720, Pakistan $690, and Sri Lanka $1,160. Based on 1995-96 price indexes, Table 11.2 shows GDP by percentage of various sectors. GDP and rate of inflation and industrial production are given in figures 11.2 and 11.3. Employment in various industrial sectors between 1983-2002 shows dramatic increase in garment sector employment, and much lesser increase in paper and cement industries.
Section two covers economic history. The inductive methods of analysis identify stages of growth, leading to international economic disparity p.35. All societies are found within one of the five stages: the traditional society, the pre-condition to take off, the take-off, the drive to maturity, and the age of high mass consumption in WW Rostow: The Stages of Economic Growth: A Non-communist Manifesto 1966.
The Harrod-Domer model 1930 suggests saving provides the funds which are borrowed for investment purposes. The economy's rate of growth depends upon saving, saving ratio and capital output ratio.
Karl Marx propounded that human civilisation has manifested itself in a series of organisational structure each determined by its primary mode of production, particularly the division of labour that dominates each stage of development: the tribal form, primitive communism, feudal or estate property and capitalism.
Economic development in developing countries covered in section three is about dual economy, which is the existence of two separate economies within one country. Lewis elaborates this as labour supply theory of rural urban migration. Further a differentiation is drawn between low income rural subsistence sector with surplus population, and an urban expanding capitalist sector. The role of capital accumulation in the industrialisation of labour surplus economy known as Fei-Ranis model is also discussed. The examination of this model is done by formulating a disequilibrium adjustment model of a dual economy.
Section four is a discussion on inequality and poverty. The inter-connectedness between the concept of inequality; income distribution, and the stage of economic growth is examined. Next, the steps to reduce inequality in income distribution and its follow-up in reduction of poverty are discussed.
Based on twenty-eight numbers of references, economic growth, employment and poverty reduction in section five and six raise the crucial question of: Can agriculture alone be the engine of economic growth in a country? This refers to the seminal work of Schultz: 1964, Transforming Traditional Agriculture, Johnston and Mellor: 1961 'The Role of Agriculture in Economic Development'. Discussion is based on data analysis and some experiences of Asian countries.
Next, section seven consists of the importance of non-agricultural activities in rural economy. The role of these activities in poverty reduction, and inequality through income distribution are also covered. Industrialisation and economic development particularly, strategies for industrialisation, and scope of employment come under section nine.
Section ten is on economic development and international organisations with brief evaluation of activities of IMF and the World Bank. Section one opens with the overview of Economic Development and Human Development.
The writer, Rizwanul Islam, was for long a resident in Geneva. Upon his return to the country, University Press Limited requested the writer to write in Bangla on the Economics of Bangladesh. Based upon an agreed content of the book, the writer submitted a draft outline of the text. To this was added, section ten. This was in May 2007 when the writer was commissioned by UPL, to do the work on reward of ten per cent royalty on the book. Since then until the publication of the book in July 2010, the consulting editor Mr Badiuddin Nazir and the writer had regular discussion on the subject matter of the book.
The purpose of this Bangla publication is: To enhance overall awareness on basic subject, such as Economics. To benefit the teacher-student and the general readers, particularly those who are less fluent in English, this writing would deepen their understanding on economics and development issues. Many of UPL's past publications cover academic subjects in Bangla. The publishing house has future plans to cover more writings in Bangla on basic subjects.
The book has been generously acclaimed by some development writers of Bangladesh namely Professor Wahiduddin Mahmud, Moshiur Rahman PhD, and Akbar Ali Khan PhD, particularly on account of its inroad into economic domain in Bangla.
Unnayaner Orthonity is dedicated to Getosree, the writer's wife.
The book is a landmark work on Bangladesh Development Economics. In this concise and precise edition, the author has presented a detailed analysis and understanding of economic 'nitty gritty' in Bangla. This slim volume, two hundred and twenty pages, is specially recommended for all students, teachers, scholars, researchers and readers, who enjoy reading vernacular text, for whom reading in Bangla is natural, a matter of habit. However, this does rule out the possibility of showcasing this fine work of international standard out of the country. Sad! I say.
E-mail: farida_s9@optimaxbd.net
Prominent development economist Amartya Sen won the Nobel Prize in 1998. He is the author of Development as Freedom. Freedom, Sen argues 'is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population…In the new global economy… the contemporary world denies elementary freedom to vast numbers… it is still possible to practically and optimistically restrain a sense of social accountability.' The Nobel Laureate brought 'ethical dimension' to the technical field of study.
Unnayaner Orthonity is about Development Economics. It is a branch of economics that deals with economic aspects of development process in low-income countries. It focuses on economic growth and structural change with emphasis on improving potentials for mass population through public/private channel in health, education, employment and others.
Of the eleven sections in the book the most exciting to read is the concluding one titled: What kind of economic growth is Bangladesh attaining? Based on Islam's paper presented at an international seminar on 'Development Prospects of Bangladesh: Emerging Challenges' organised by the Bangladesh Institute of Development Studies in Dhaka, December 2 and 3, Golden Jubilee celebration in 2007. The impact of the global economic crisis cancelled the country's GDP growth rate at 7.0 per cent as projected by the Asian Development Bank. Table 11.1 makes clear the GNP per capita 2005 in Bangladesh US$470, India $720, Pakistan $690, and Sri Lanka $1,160. Based on 1995-96 price indexes, Table 11.2 shows GDP by percentage of various sectors. GDP and rate of inflation and industrial production are given in figures 11.2 and 11.3. Employment in various industrial sectors between 1983-2002 shows dramatic increase in garment sector employment, and much lesser increase in paper and cement industries.
Section two covers economic history. The inductive methods of analysis identify stages of growth, leading to international economic disparity p.35. All societies are found within one of the five stages: the traditional society, the pre-condition to take off, the take-off, the drive to maturity, and the age of high mass consumption in WW Rostow: The Stages of Economic Growth: A Non-communist Manifesto 1966.
The Harrod-Domer model 1930 suggests saving provides the funds which are borrowed for investment purposes. The economy's rate of growth depends upon saving, saving ratio and capital output ratio.
Karl Marx propounded that human civilisation has manifested itself in a series of organisational structure each determined by its primary mode of production, particularly the division of labour that dominates each stage of development: the tribal form, primitive communism, feudal or estate property and capitalism.
Economic development in developing countries covered in section three is about dual economy, which is the existence of two separate economies within one country. Lewis elaborates this as labour supply theory of rural urban migration. Further a differentiation is drawn between low income rural subsistence sector with surplus population, and an urban expanding capitalist sector. The role of capital accumulation in the industrialisation of labour surplus economy known as Fei-Ranis model is also discussed. The examination of this model is done by formulating a disequilibrium adjustment model of a dual economy.
Section four is a discussion on inequality and poverty. The inter-connectedness between the concept of inequality; income distribution, and the stage of economic growth is examined. Next, the steps to reduce inequality in income distribution and its follow-up in reduction of poverty are discussed.
Based on twenty-eight numbers of references, economic growth, employment and poverty reduction in section five and six raise the crucial question of: Can agriculture alone be the engine of economic growth in a country? This refers to the seminal work of Schultz: 1964, Transforming Traditional Agriculture, Johnston and Mellor: 1961 'The Role of Agriculture in Economic Development'. Discussion is based on data analysis and some experiences of Asian countries.
Next, section seven consists of the importance of non-agricultural activities in rural economy. The role of these activities in poverty reduction, and inequality through income distribution are also covered. Industrialisation and economic development particularly, strategies for industrialisation, and scope of employment come under section nine.
Section ten is on economic development and international organisations with brief evaluation of activities of IMF and the World Bank. Section one opens with the overview of Economic Development and Human Development.
The writer, Rizwanul Islam, was for long a resident in Geneva. Upon his return to the country, University Press Limited requested the writer to write in Bangla on the Economics of Bangladesh. Based upon an agreed content of the book, the writer submitted a draft outline of the text. To this was added, section ten. This was in May 2007 when the writer was commissioned by UPL, to do the work on reward of ten per cent royalty on the book. Since then until the publication of the book in July 2010, the consulting editor Mr Badiuddin Nazir and the writer had regular discussion on the subject matter of the book.
The purpose of this Bangla publication is: To enhance overall awareness on basic subject, such as Economics. To benefit the teacher-student and the general readers, particularly those who are less fluent in English, this writing would deepen their understanding on economics and development issues. Many of UPL's past publications cover academic subjects in Bangla. The publishing house has future plans to cover more writings in Bangla on basic subjects.
The book has been generously acclaimed by some development writers of Bangladesh namely Professor Wahiduddin Mahmud, Moshiur Rahman PhD, and Akbar Ali Khan PhD, particularly on account of its inroad into economic domain in Bangla.
Unnayaner Orthonity is dedicated to Getosree, the writer's wife.
The book is a landmark work on Bangladesh Development Economics. In this concise and precise edition, the author has presented a detailed analysis and understanding of economic 'nitty gritty' in Bangla. This slim volume, two hundred and twenty pages, is specially recommended for all students, teachers, scholars, researchers and readers, who enjoy reading vernacular text, for whom reading in Bangla is natural, a matter of habit. However, this does rule out the possibility of showcasing this fine work of international standard out of the country. Sad! I say.
E-mail: farida_s9@optimaxbd.net