Lopamudra Banerjee, Anirban Dasgupta, and Rizwanul Islam (eds.). Development, Equity and Poverty: Essays in Honour of Azizur Rehman Khan. India: Macmillan Publishers India Ltd. 2010. Hardback, 542 pages, Indian Rs 2100.00.

The book, as the title indicates, is collection of articles bythe experts in the field of development economics. It is compiled inhonour of Professor Azizur Rehman Khan, guru in the field of developmenteconomics. Unfortunately, I have not met Professor Khan but his writingswere always a source of inspiration. This book is the best present toProfessor Khan on his seventieth birthday. Acknowledging the fact thatdevelopment challenges are becoming more complex and multidimensional,the collection of articles is based on following six themes: First themefocuses on Macroeconomics of Development. Second theme is Growth,Poverty and Inequality Linkages and third is Analysis of Poverty. Theforth theme relates to issues of Employment-Intensive Growth. Fifththeme reviews the Labour Markets, Wages and Productivity and the finalfocus is on Rural Development. Three articles on Macroeconomics ofDevelopment focus on role of pricing structure, investment, sources andstructure of growth in China and the macroeconomic policy framework toensure stability, growth and employment. Keith Griffin criticallyevaluates the existing development theories. In the first instance, hequestions the role of relative prices in resource reallocation resultingin change in economic structure. Griffin evaluates different dimensionsof the argument. For example the degree of mobility of factors ofproduction across sectors which can impose additional costs.Furthermore, he argues, it may not be the price signal that affects theresource allocation. It is the investment decision that, " ...determines how resources in fact are allocated".