THE ECONOMICS OF POVERTY by Thomas Balogh. 381 pages. Macmillan. $7.95.
"England's most controversial economist," as the dust jacket correctly bills Thomas Balogh, believes that the world is a ticking time bomb. Rich nations are getting richer while poor nations are getting poorer—and unless the trend is radically reversed, warns the author, all the colored races will embrace Chinese-style totalitarianism. His thesis is well-worn and his stark pessimism is questionable, but the problem of widening inequalities is all too real and urgent.
Balogh's book does not make comfortable reading—his style is both windy and...
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