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Published online by Cambridge University Press: 11 November 2008
The shortage of capital has always been viewed as one of the crucial bottlenecks in the process of economic development, although recently the emphasis seems to have shifted to the shortage of skilled manpower. Whether it is defined to be only physical or also human – i.e. training, education, and health – capital formation still constitutes the cornerstone of the theory of, and plans for, economic development. Almost by definition, underdeveloped countries are short of capital.
Page 145 note 1 This article was prepared before the author joined the staff of the International Monetary Fund.
Page 145 note 2 See my Ph.D. dissertation, ‘Labor Mobilization and Economic Development: the Moroccan experience’, University of Michigan, 1971. A condensed version of this was published in April 1972 as Discussion Paper No. 15 by the Center for Research on Economic Development at Ann Arbor, whose financial support and generosity are here gratefully recorded.
Page 146 note 1 Other recent experiences of labour mobilisation include those in China, ‘rural public works’ in former East Pakistan, ‘community development’ in India and several African Commonwealth countries, animation rurale and service civique in French-speaking Africa and the Malagasy Republic, and the successors to the ‘worksites for unemployment’ in North Africa. They have met with varying degrees of success.
Page 147 note 1 See Tiano, André, La Politique économique et financière du Maroc indépendant (Paris, 1963), pt. 1Google Scholar; Belal, Abdel Aziz, L'Investissement au Maroc (1912–1964) et ses enseignements en matière de développement économique (Paris, 1968), pp. 324–30Google Scholar; and Oualalou, Fathallah, L'Assistance étrangère face au développement économique du Maroc (Casablanca, 1968), p. 77.Google Scholar
Page 148 note 1 du Maroc, Royaume, Délégation Générale à la Promotion nationale et au plan, La Promotion nationale au Maroc (Rabat, 1964), p. 19.Google Scholar
Page 149 note 1 Oualalou, op. cit. p. 76.
Page 150 note 1 Ibid. pp. 76–7.