Twentyeighth Meeting of the National Development Council May 30 and 31,1972

Abstract

The basic premise of our Five Year Plans has been development along socialist lines to secure rapid economic growth and expansion of employment, reduction of disparities in income and wealth, prevention of concentration of economic power, and creation of the values and attitudes of a free and equal society. 2. In elaborating our strategy of development in earlier Plan documents, we seem to have assumed that a fast rate of growth of national income will by itself create more and fuller employment and produce higher living standards for the poor. We also seem to have assumed that, for reduction of disparities in income and wealth, the scope of redistributive policies is severely limited.