PROFESSOR MIRRLEES CONTRIBUTION TO ECONOMIC-POLICY

This paper looks at Professor Mirlees' important contribution to the t heory and practice of project evaluation. Despite the apparent relevan ce of this work to practical policy making, the approach has had only limited application. The paper explores why the Little-Mirrlees' techn ique of project evaluation has been less widely used than was initiall y anticipated. Given this disappointing use, the paper argues that Pro fessor Mirrlees' main contribution to economic policy lay in the power ful support his work gave to trade liberalization.