Investment Criteria in Development Programs
Introduction, 38. — I. The capital-intensity criterion, 38. — II. The nature of the product, 42; real income increases, money income stable, 43; money income increases to the extent of the incremental output, 44; the tautology of the "type III" criterion, 45; the advantages of home market industries, 46. — III. Direct vs. indirect foreign exchange requirements, 48. — IV. Practical value of the rejected criteria, 50. — V. The hazards of international financing, 53. — VI. Conclusion, 60.