International Trade in Minerals and Economic Development (08ef22d4-9c9e-4f31-8cb9-9e9b9468c70c)

"THE FOLLOWING are some comments on the article, ""International Trade in Minerals and Economic Development"", by M. Sengupta, published in the October 1976 issue of the CIM Bulletin.Sengupta says in the introduction that ""The mechanism through which this growth (economic development) has occurred is basic ally straight forward"". His statement is quite misleading and perhaps it is better to quote Gerald Meier:""Development economists must operate in an imperfect second-best world, away from the simplified premises of neoclassical economics. Their subject matter is therefore not yet a coherent or self-contained discipline. Denied recourse to a set of general principles, perhaps the student's most sensible introduction to economic development is through a study of 'leading issues' that are at the time a major preoccupation of the development economist and development practitioner"" .Sengupta quotes an authority who wrote 18 years ago. Academic and operating development economists today know full well that existing theory is quite deficient. Sociologists, political scientists and engineers in this field also know that economic, social, political and technical development involves all academic disciplines.Sengupta indicates that tariffs in developed countries prevent less developed countries from supplying refined metal, or manufactured and semi-manufactured products. He lists Zambia, Chile and Zaire as examples of copper concentrate exporters, as inadequately shown in Table 1. He is wrong."