This book is a study of one type of relation between public authorities and the private sector. In the modern world it is becoming increasingly clear that these two ways of organizing economic life must learn to get along with each other and develop vehicles of mutual advantage. This is especially true in the re lations between advanced and developing economies because for historical reasons, the development of non-Western economies today is taking a course quite different from the path of the advanced business economies of the West. It is desirable for both spheres to try and understand each other and look for ways of getting along. International tensions can be alleviated to the degree that positive attitudes are taken and mechanisms of the kind dealt with in this book are created. Much of the problem is simply one of semantics. The term "socialism" or "socialistic pattern of society", for example, which is often used in India as a positive word has very negative conno tations for Americans. There are, of course, socialists in India who would make their economy entirely publicly owned, indis tinguishable from the Chinese or the Russian, but the vast majority of leaders associated with the dominant party in India visualize a present and future mixed economy not too different from that reached by the United States through a very different road. We in the United States have been nurtured on the belief in private enterprise.

Studying firms and entrepreneurs over three centuries, this book unravels the historical roots of the impressive business growth witnessed in contemporary India.

That a developing economy needs management even more than resources is now becoming abundantly clear to all students of growth. There was perhaps a facile assumption in the earlier years that the rate of growth in a developing country depended in almost direct proportion to two factors: the resources available within the country, the land, water, minerals, savings and other relevant inputs; and the initial importation of aid from without, in terms of capital and skills not available within - but the factor of good management was somehow ignored, as also the attitudes of the people and their leadership to growth. These two factors are now coming into their own as being crucial to development and there is a new appreciation of the need for a good supply of well trained managers and providing them with an environment that is permissive and encouraging. These essays are a timely analysis of this new-felt need, and a valuable source of new leads and hypotheses, for they examine the multi-facets of the problem of India's growth, but with keeping the professional manager squarely in the middle of the study. And after all it is he upon whom the major responsibility for develop ment and growth will depend, given the chance. The contributors to this symposium are seven young Indians, all management educators of distinction at universities in the United States, and one hopes that they will themselves pick up some of the leads and pursue them. P. L.