Ihe only thing worthy of mentionnabout Three Women at the Water’snEdge is that Nancy Thayer has managednto write an entire novel in the pluperfectntime as Godwin’s, and one of the bookjacketnblurbs is by Godwin. So much fornoriginality in the current state of arts andnletters. Both Godwin and Thayer haven”Nancy Thayer has written a superb woman’s book . . . ‘Three Women at thenWater’s Edge’ captures what it’s like to be a woman in an age when none of thenpremises seem true and none of the definitions help to define womanhood.”n—Chicago Tribunentense. We admit that this is funny. Butnit’s a lot funnier if you don’t have to readn300 pages of it. Actually, there is onenmore interesting thing about ThreenWomen. The main oudine of the plot isnvirtually the same as that of Godwin’snnovel. It was released at about the samensucceeded in being thoroughly modern.nGodwin has chronicled the pervasivenvapidity of our times, but in refusing tonmake any judgement of it, she participatesnin it herself. Gail Godwin andnNancy Thayer are as modern as the MenDecade, and just as appealing. DnOn Economic Development & DelusionsnPeter Bauer: Equality, the ThirdnWorld and Economic Delusion; HarvardnUniversity Press; Cambridge,nMassachusetts.nWilliam Loehr and John Powelson:nThe Economics of Development andnDistribution; Harcourt Brace Jovanovich;nNew York.nby Grace Goodelln”rofessor Peter Bauer, for decades anlone conservative in the field of economicndevelopment, is at last joined by twonscholars who, like him, condemn centralizedngovernment and espouse thenfree market as the most efficacious routento economic development. These twonvolumes complement one another—nthey also challenge each other. Theirnparting of the ways occurs when theynconsider whether development is mainlynan economic matter or if it requires certainnpolitical foundations.nProfessor Bauer’s essays provide a critiquenof the ideological and psychologicalnunderpinnings of foreign aid: itsnDr. Goodell is a visiting scholar at thenHarvard Institute for International Development.nS8inChronicles of Culturenrecenr history, the hypocrisy and opportunismnof its sundry proponents and thendamage (rather than benefits) which itninflicts on the Third World. With Savonarolannardor Professor Bauer blamesnThird World poverty on both the governmentsnand the peoples there. His heroesnare the Chinese of Hong Kong who,nin their “single-minded pursuit of makingnmoney,” have progressed rapidlyndespite their colony’s exceptional populationngrowth and its lack of naturalnresources, political sovereignty, notableneducational achievement, governmentnplanning or special investmentnincentives.nIf this onslaught leaves the laymanndizzied, he can find no more comprehensive,nbalanced and humane synthesisnof what we do—and do not—knownabout capitalistic economic developmentnthan in Professors Loehr and Powelson’snconcise review. Like Professor Bauer’s,nthis book is likely to make economists illnat ease because of its unique range—nacross centuries of human history Eastnand West, across varied social-science disciplinesnas well as contemporary Westernneconomics—and its commitment tonfreedom, to law, to the objective test ofnwhether development policies actuallynwork.nnnAlthough it is written as an economicsntext. Professors Loehr and Powelson’sncompendium introduces the reader tonmost major considerations in developmentntheory and questions many ofnthem. They demonstrate that manynwidely accepted policies based on governmentnmanipulation actually have noneffect at all on poverry—or, worse yet,nexacerbate the gap between the rich andnthe poor. After careful examination theynfind that measures for hill employmentnrarely improve income distribution, thatnThird World governments themselvesnrather than corporations bear the blamenfor instituting capital-intensive technologiesneven when local labor is cheap, thatnland reform brings no benefits to thenrural poor, that efforts to upgrade educationnoften aggravate disparities in wealthnby subsidizing middle-class universitynstudents while neglecting village andnslum primary schools, that forgiveness ofninternational debts would benefit thenrichest Third World countries instead ofnthe poorest, since the latter are not thenprincipal debtors anyway. Contrary tonestablished dogma, Loehr and Powelsonndocument the efficiency and responsivenessnof the private market in ThirdnWorld agriculture. They highlight numerousnThird World studies seldom citednelsewhere: research on bureaucraticn”harassment” of small businesses, for instance,nand studies by the InternationalnLabor Organization itself (ILO) opposingnminimum-wage regulations in poorncountries.nBoth volumes address macroeconomicnquestions of development policy, thendemography of the “population explosion,”nand “personal” attributes which,nthough beyond the reach of economists,nlargely determine economic prosperity.nBoth denounce many of the assumptions,ncriteria and research methods ofndevelopment economics. In distinctnways, both studies probe the dynamics ofnpower which underpin contemporaryndebates over the distribution of wealthnbetween nations as well as betweennclasses within each Third World country.nAs such, they seem to have laid the foun-n