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This study is an elaboration of the thesis that, under certain conditions and assumptions regarding the economies of underdeveloped countries, surplus food could provide a valuable and unique form of additional funds for accelerating capital formation in these countries. The central ideas of this thesis, including the conditions and assumptions which underlie their validity and some of their practical implications are examined in Chapter II. Chapter I consists of some background in formation on present inequality of wealth between the advanced and the less developed countries of the world and the economic and political implications of such inequality. Part of this material consists of our basic value judgments and assumptions regarding the desirability and necessity of aiding underdeveloped countries to realize their le legitimate and cherished hopes. In Chapter III we discuss the Libyan economy as an example of where and how surplus food may be used to promote economic development. Chapters IV and V consist of a general evaluation of present methods of surplus disposal— their objectives, scope, mechanics and effectiveness. In Chapter VI we make an evaluation of these methods on the basis of their contribution to economic development. The theoretical ideas and assumptions regarding the requirements of economic development, the role of surplus food in such development, and United States interest in the progress of underdeveloped countries, all of which are discussed in Chapters I to III, provide the main criteria for our evaluation of present surplus disposal and foreign currency loan programs. This evaluation is followed by a list of suggestions designed to facilitate maximum utilization of surplus food in promoting capital formation in underdeveloped countries.

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South Dakota State College


Agricultural Economics