Thus, it seen too optimistic to hope that the adoption of comprehensive balanced-growth investment planning by itself, without fundamental improvements in the administrative machinery of the government, and the easing of mutual distrust and suspicion between the government and the private sectors, would improve the efficiency of signalling and co-ordinaiion between the different sectors of the economy.
“Let us now pus on to the question of the responsiveness of private enterprise in underdeveloped countries to a given signal from the price system. Logically, the fact that two industries A and B arc complementary does not necessarily mean that they should be expanded simultaneously to reach the maximum possible expansion for both. With the responsiveness of private enterprise, this expansion may be achieved either by expanding A to the full extent and inducing B to expand correspondingly by lowering the price of the input A. or by expanding B to the full extent, inducing A to expand conespon-ingly under the pressure of excess demand for its product by B. In the advanced countries, this may take place through private initiative only, resulting in what is known as ‘vertical integration’.
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