You are here

SAGE online ordering services will be unavailable due to system maintenance on June 27th at 4:30 am UK time for 30 minutes. If you need assistance, please contact SAGE at . Thank you for your patience and we apologise for the inconvenience.

Economic Challenges for the Contemporary World

Economic Challenges for the Contemporary World
Essays in Honour of Prabhat Patnaik

First Edition
Edited by:
  • Mausumi Das - Department of Economics, Delhi School of Economics
  • Sabyasachi Kar - Institute of Economic Growth, University of Delhi, India
  • Nandan Nawn - Professor, Department of Policy Studies, TERI University, New Delhi

July 2016 | 344 pages | SAGE India

In view of Prabhat Patnaik’s role in advocating progressive reforms and ideas in the global economy, this volume, in his honour, questions conventional thinking in mainstream economics and policy.

This book brings together diverse scholarship on various aspects of economic development that underscore the importance of tackling dominant and contemporary issues concerning the national and global economy. Divided into five distinct themes—economic growth, engaging with globalisation, poverty and inequality, macroeconomic issues, political economy and developmental aspects—the essays outline significantly contrasting methodologies that are used to deal with issues of vital importance.

Topical and up-to-date, the volume challenges the laissez faire philosophy and highlights the weaknesses of a free market as well as its inability to deal with the current issues.

Kaushik Basu
Mausumi Das, Sabyasachi Kar and Nandan Nawn
C P Chandrasekhar
Financial Development and Growth under Capitalism
Pranab Mukhopadhyay
Global Economic Challenges: Alone We Lag, Together We Grow
Nandan Nawn
Sustainability, Surplus and Survival: Explorations through Agricultural Energetics
Shouvik Chakraborty
Secular Movements in the International Terms of Trade of Primary Commodities vis-à-vis Manufactured Goods: Towards an Explanation
Sabyasachi Kar
Global Rebalancing: Limitations of the East-Asia-centric Approach and the Role of Europe
Surajit Das
Effect of Fiscal Policy on Level of Activity under Capital Flows
Biswajit Dhar and Reji Joseph
Foreign Direct Investment, Intellectual Property Rights and Technology Transfer
Mausumi Das
Aspiration, Inequality and Growth
Subrata Guha
A Proposition on Convergence to Equality in a Growth Model with Bliss
Sudhanshu Bhushan
Education, Equity and Development
Shuji Uchikawa
Employment Growth and Informalisation of Workers in the Organised Manufacturing Sector
Jyotirmoy Bhattacharya
Monetary Equilibrium and Inertial Expectations
Vineet Kohli
Stock Markets, Finance and Development: A View from History
Pradip Kumar Biswas
Corporate Retailing in the Advanced Countries: Some Salient Features
Prasenjit Bose
Empire or Imperialism?
Output and Price (In)Stability under Neoliberalism: A Kaleckian Approach
Debarshi Das
Agricultural Investment in India in Recent Decades: A Political Economic Note of Its Causes and Consequences
Praveen Jha
Political Economy of Contemporary Indian Agricultural and Rural Dynamics

“The volume that covers three major themes: the internal contradictions of capitalism, the growth of the Indian economy and the feasibility of socialism… contains essays contributed entirely by Patnaik’s former students, especially those whom he guided in their doctoral work. It is a fitting tribute to a teacher who inspired them by his commitment to scholarship and involvement in public affairs.”

Frontline, December 9, 2016

[The book] is a tribute to Patnaik. It reflects the wide range of interests that he had and allowed his students to pursue – from macroeconomics to dynamic optimization, to stimulation techniques, to monetary economics, and Marxism. If only one thing could bind all the essays together then that would be the fact that each contributor addresses a problem of the market economy, and tries to probe it to seek implications for long-term development of society.


Economic and Political Weekly, 16 September 2017

For instructors

Please contact your Academic Consultant to check inspection copy availability for your course.

Select a Purchasing Option

ISBN: 9789351508786