BOOK REVIEWS 77 He is perfectly right in his assertion that the distortion in priorities has been caused by the influence of big capital. This fact is generally ignored by the 'professional economists' who somehow do not mind working on the basis of a wrong hypothesis that the Planning Commission and the Government which lay down these priorities are free from all influences. In fact, the bourgeoisie distorts the pattern of development by upsetting the priorities and helps the expansion of industries producing consumer goods of secondary importance. Bettleheim has ( forcefully argued that this development of non-priority industries leads j to immobilisation of large amounts of capital, and thus results in pseudo- ^ industrialisation. Failures of the industrial sector are both political as well as economic. On the political plane, the author has noted that this lopsided industrial development does not serve as an instrument of rapid change in the social struct are. Failings on the economic plane are still more glaring. Bettelheim's analysis leaves no doubt that the pseudo-industrial-sation has not enabled the country to mobilise the immense unemployed productive forces for the benefit of true industrialisation, or even to retain economic surplus for the purpose of further industrial development. With these failures, the economy is headed towards a major economic crisis. This viewpoint of the author has been corroborated by the course of events in the late sixties, particularly when the growth in almost all major industries came to a standstill. Further, the author makes a very important observation when he says that there has been a shift in the attitude of the Indian bourgeoisie towards foreign capital and the period has been characterised by a closer collaboration between the two. In his opinion, India's increased, reliance onjoreign capital, particularly if it comes from the ^capitalist countries will force her towards a situation that one witnesses „ today, in JL^tin American countries : "incapacity to meet foreign expenses (payments, interest costs, dividends, imports costs, etc.), a demand for more aid and for a payment moratorium, the arrival of a mission of ^financial experts' ^ sent by the creditor countries or by the IBRD or the IMF., who would outline an ^mterity programme' which India would be forced f to accept, thus losing the initiative in matters of investment, prices,, currency, etc." (p.363) But even in this period of crisis, it is only the monopoly capital which manages to prosper, while the masses in large numbers suffer. Ingrfia^ij^g inequalities intensify social tensions and create a ground for revolutionary movement. But to what extent it will develop, will depend ' on the nature of the economic crisis as well as on the existence of a | well organised militant mass movement guided by a genuine revo- \ lutionary organisation. Though not very original, this generalisation by ^» Bettelheim appears to be perfectly valid in view of the developments? in the states of West Bengal and Kerala, particularly in recent years. I - . . _S K MISHRA