The low agricultural output of many developing countries is often blamed on discrimination against the farm sector, especially as a result of low state-regulated prices. Accordingly, it is argued that agricultural prices should be raised to offer producers incentives to expand production....

Many of the present difficulties of the world economy have been blamed on the two oil-price explosions of the 1970s. Professor Chichilnisky shows that, at least in the case of the oil-importing developing countries, the negative effects have been overestimated. In fact, in some respects the oil...