But the book is not just a catalogue of policy failures, comprehensive though they have been. The authors have taken the sub-title of the volume to heart and each chapter contains not just an account of developments since 1960 but also a set of policy prescriptions. By and large these are based on the lessons offered by the more successful Asian economies since 1950. In Chapter 12, the authors stress the importance of restoring macroeconomic stability, of allowing market institutions to develop, and of introducing a more business-friendly regulatory environment in