66 SOCIAL SCIENTIST variety of ways intended to remove barriers to capital formation and fostering the growth of indigenous business classes. However, Malyarov argues, despite the support of the state aimed at helping the growth of an indigenous capitalist class, the latter is unable to rid itself of its dependence on foreign capital for a variety of reasons. Further, Malyarov notes the deceleration in the rate of growth of industrial output since the mid-1960s and attributes this to the slowing down of "industrial capital formation in the public sector" (p 21). "With the gradual exhaustion of the possibilities of expanding the market through the process of import substitution, the narrowness of the domestic market increasingly becomes the chief constraint hampering the further progress of the formation and growth of industrial capital" (p 27). While there is now a vast literature on this subject, Malyarov does not make any reference to this literature which is both surprising and unfortunate. In response to this exhaustion of the home market, Malyarov argues, the government is trying to find a solution by "reorienting the big and partially small-scale industry to the foreign market. However, Indian industrial capital finds it difficult, even with broad support from the state, to overcome the competition of the multinationals in the world markets and the protectionist policy of the capitalist states. Therefore, this road is hardly able to play the role of a mojor 'safety-valve' facilitating the general acceleration of the growth rates of industrial capital in India" (p 28). Among other interesting observations on the economy, Malyarov makes the following observations on black money: "The concealment and misuse of incomes, output, deficit . materials, etc. leads to the flow of capital from the regulated economy to the 'black* one, which retards the growth of industrial capital still more and maintains the overgrowth of capital of the circulation sphere. The development of the 'black economy' has become a mojor factor contributing to a sharp rise in prices, increase in inflation and a noticeable slowing down of the growth rates of industrial capital formation" (p 28). While there are several such interesting statements, there is little effort at following them up with a more detailed discussion of the processes through which these work out. This has been a problem with several Soviet studies on India which rest content with assertions that are not often followed up witha empirical support or detailed analysis. Alexander Kolontayev^s paper, "The Scientific and Technological Revolution and the Machine Stage of Production in the Developing Countries" is more of a theoretical nature which discusses the problems relating to industrial revolution in Western and Oriental societies. It has perhaps been included in this volume because the paper draws upon the Indian experience in its reference to 'Oriental' societies but it fits in uncomfortably with the rest of the papers. Ivan Egorov, in his essay "The Policy of Economic Integration and Value Relations", takes up the important issue of how state control and regulation within an essentially capitalist economy affects value relations. The operation of the market economy imposes constraints on the extent to which 'planning' can, in fact, determine the dynamics of the economy. Both the above papers suffer from poor translation and an excessive use of what may be called 'jargon' so the reader is left bewildered as he plods through