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During the past two decades there has been increasing concern that the development strategies of the 1950s and 1960s would neither eliminate nor even greatly reduce poverty even as the pervasive nature of that poverty became more widely recognized.
In his insghtfull but unfinished work, Dharm Narain drew attention to the behavior of prices as one of the important factors determining the extent of poverty in rural India. His empirical investigations, summarized in Gunvant Desai's contribution to this volume (chap.