This study is concerned with the impact of changes in economic conditions on the family. "Three issues are considered in this paper. First, the reasons why the family is not fading away as an economic entity are discussed. The argument of this paper is that, despite the declines in various economic functions of the family and the increases in divorces and in other failures, the survival capacity of the family is both strong and robust." Second, the author contends that the economic approach should be extended to deal with the effects of the life-span revolution, shifts in prices and incomes, and the ability of the family to cope with these changes. Third, the hypothesis is put forward that intergenerational transfers are less important than increases over time in real per capita incomes and changes in income composition, its permanent and temporary components, and the sources of income. The geographical focus is worldwide.

THE admirable review article by Joseph S. Davis sets a high standard in workmanship. The review is many sided, meticulous, and on many specific points penetrating. Davis concurs in many of the lesser findings put forward in the book, but he is obviously much disturbed by the two main theses that emerge. He cannot accept the conclusion that a persistent excess supply of labor, with the attendant low per capita earnings, characterizes agriculture in the long run. Nor is he willing to take the cyclical instability of farm income associated with business fluctuations and treat it as part of the general problem of maintaining the aggregate demand by means of monetary-fiscal measures that are countercyclical in nature. Davis' dissent, therefore, is not with regard to details but on fundamentals. The basic differences between his approach and that underlying Agriculture in an Unstable Economy go much deeper than his liberal praise of the book might indicate. They are rooted partly in economic theory, partly in the empirical evidence considered relevant, and partly in concealed valuations. These analytical differences can best be made explicit by focusing first on the idea of equilibrium and second on fluctuations.

Poor people in low-income countries are no less concerned about improving their lot and that of their children than those of us who have incomparably more income. They are also competent in using their meager resources. Many low-income countries have advanced substantially in recent decades in improving the quality of their population and in acquiring useful knowledge. These achievements imply favorable economic prospects, provided they are not dissipated by politics.

Poor people in low-income countries are no less concerned about improving their lot and that of their children than those of us who have incomparably more income. They are also competent in using their meager resources. Many low-income countries have advanced substantially in recent decades in improving the quality of their population and in acquiring useful knowledge. These achievements imply favorable economic prospects, provided they are not dissipated by politics.