About the Book
The author offers an intensely insightful discourse on the crisis of capitalist economy desperately struggling to find an escape route in the maze of neo-imperialism and globalization. In the present context of global economic recession this endeavor becomes even more pertinent as it examines the crisis of the capitalist economy in general and Keynsian economics in particular. The macroeconomic implications in the Indian context have made the compilation of these sixteen essays more significant for the readers.
The volume will cater to the needs of the undergraduate and post graduate students and scholars looking for a more realistic approach to the macroeconomic theory. Amit Bhaduri, one of country’s leading economic theoreticians is known for his lucid but bold formulations and this work will surely fascinate critics as well as any general reader interested in the politics of economic policy formulations.
Section-I Dynamics of the Capitalist economy: Focus on the domestic market.
1. An Introduction to the principle of effective demand
2. Making sense of the aggregate demand-supply model
3. Unemployment and the real wage The economic basis for contesting political ideologies
5. Labour-market flexibility and economic expansion
6. On the dynamics of profit-led and wage-led growth
7. The political economy of social democracy
8. Structural change and economic development On the relative roles of effective demand and the price mechanism in a ‘Dual’ economy
Section-II dynamics of the Capitalist economy: Focus on foreign market
9. Some implications of economic openness with special reference to India
10. Short-period macroeconomic aspects of foreign aid
11. The impact of globalization on Indian economic development
Section-III Long run Dynamics: Economic growth and ideology
12. Capitalistic accumulation in logical and historical time
13. Increasing Returns and the division of labour in the theory of economic development
14. Predatory growth
15. A failed world view