Not long ago, in 1946, when an outstanding economist was invited to join the staff of the United Nations, in the new branch of Economic Development, he asked, “Economic development? What is that?” Since then, he has been working intensively on the subject, as have a great many others; and if, before 1945, very little had been written on economic development, by now the literature has assumed the proportions of a flood. Before the war, business cycles were indubitably the favorite subject of professional writing; now, certainly, it is economic development.