Are devaluations contractionary? This question has been with us for a long time. The conventional Keynesian economist holds the view that if devaluation is demandexpansionary, then both output and balance-of-payments will improve with devaluation. Experience, however, shows contrary outcomes....

Two aspects of the problem of the unemployed educated persons are discussed in this essay. Firstly, the magnitude and incidence of the unemployment of such persons are examined. One point that becomes apparent from looking at the secondary data is that the bulk of the educated unemployed persons...