Macro-economic policy and income distribution

The discussion of distributional considerations is not an issue separate from that of macro-economic policy measures. No discussion of such measures can possibly Be carried out without regard to their distributional implications. The liberalisation-cum-structural adjustment package, the author argues, brings about four different kinds of distributional shifts: from workers lo capitalists, from petty producers and small capitalists to large capitalists, from domestic capitalists to foreign capitalists and - what has perhaps attracted the least attention - from entrepreneurs to rentiers or from producing interests to financial interests.