BOOK REVIEW 67 industrilisation; the technology transferred is often obsolete and in any case does not accord with the particular socio-economic needs of these countries. In some cases, TNGs have also gone in for industrial deployment simply to exploit the cheap labour and raw materials, long working hours and vast markets. Fidel Castro rightly pointed out: The industrialisation of Third World must not be the sorry byproduct left by transnationals in exchange for the brutal exploitation of the underdeveloped countries9 labour resources, the depletion of their natural resources and the pollution of their territories (p 134). Brain drain from the UDCs is another major source of exploitation for the DCCs. The migration of highly skilled people in science, arts or culture to metropolitan centres is contributing in a big way to the progress of imperialist countries. According to UNGTAD, from 1960 to 1972 the total contribution made by the UDCs to the DCCs in the form of brain drain amounted to 51 billion dollars. Castro draws attention to the crucial role being played by the TNCs in the present world set up. In 1976, these corporations were controlling 40 per cent of the world trade, 50 per cent of industrial production; their total output was 830 billion dollars and it is still continuously increasing. The number of TNCs is 11000, with 82000 subsidiaries, of which 48 per cent belong to the United States alone. During the year 1979-80 total investments of TNCs were 62615 million dollars, whereas the total profits were 139703 million dollars, which means that every dollar invested in the UDCs gave a return of 2.2 dollars. This plunder has a major role to play in keeping imperialism alive. The TNCs' sphere of operation has not remained limited to the economic -6eJd a}one but bss iMvitab}}' mvo}ve^ them in poJitic,aJ mterventsons in the UDGs. The net loss created by TNCs to the underdeveloped world is around 100 billion dollars per annum. After 1973 oil-shock, although prices were increased by the oil exporting UDCs, the DCCs also raised the prices of their manufactured goods in order to compansate for this oil price hike. There has been a slight improvement in the economic condition of the oil exporting UDCs, but there were only seven or eight UDCs with surplus oil. The Rest of the UDCs have to rely on imports to meet their needs. Again this crisis mainly benefited the DCCs because, firstly, the major oil business of these counttries is controlled by their TNCs, and, secondly, 85 per cent of OPEC investment found its way to the DCCs. The price of oil which was 3.22 dollars per barrel increased to 35.2 dollars in 1981. The worst hit countries due to this oil crisis were the oil-importing UDCs. With the growing crisis of capitalism now the imperialist powers have shifted their focus to war industries. Reagonomics is openly pleading for transferring expenditure from welfare schemes to defence