Page:Indian Journal of Economics Volume 2.djvu/9

 INDIAN JOURNAL OF ECONOMICS P&rg I of 1917 THE ART OF ECONOMIC DEVELOPMENT PROFESSOR H. STANLEY JEVONS, M.A., F.S.S., F.G.S. UNIVERSITY OF ALLAHABAD I.---INTRODUCTION 1 The development conntry is and mining of the economic resources of a a familiar idea, connoting the discovery of its mineral wealth, the improvement of agricnltnre, and the constrnction of railways, docks, so forth. Development, understood in this sense, and has been proceeding apace dnring years, first in England, France the past hundred and Holland; then in North America, and in the rest of Europe; and later in India, Anstralia, Africa, South America and Japan. The past few years have seen the commencement of the same process in Asia Minor and in tle thickly populated territories of China. Yet all this enormous investment of capital, this revolution in the material environment of life, is undertaken with hardly any kind of guiding principle other than the business man's quest of profits or the State's desire to benefit its people. There is no definite conception of the objects I A summsr oo0,tents of the wholo of this m'tiole will be found, st the end, see p. ,