Conflict, Demand and Economic Development Essays in Honour of Amit Bhaduri

Foreword by Duncan Foley

1. Introduction

Deepankar Basu and Debarshi Das

Part I. Post-Keynesian Macroeconomics: Growth and Distribution

2. Power, Income Inequality and Economic Growth

Amitava Krishna Dutt

3. Harrodian Instability in Kaleckian Models and Steindlian Solutions: An Elementary Discussion

Eckhard Hein 

4. Conflict as Closure: A Kaleckian Model of Growth and Distribution Under Financialization

Srinivas Raghavendra and Petri T. Piiroinen

5. Aggregate Demand Policy in Mature and Dual Economies

Peter Skott

6. Competition, Technical Change and Demand-Led Growth

Subrata Guha

7. The Economics and Politics of Social Democracy: An Update

Servaas Storm

8. What is the Impact of an Exogenous Shock to the Wage Share: VAR Results for the US Economy, 1973-2018

Deepankar Basu and Leila Gautham

Part II. Classical Political Economy: Conflict and Exploitation

9. ‘Superhuman Efforts’ and the Theory of Value and Distribution: Sraffa on Pareto

Heinz D. Kurz

10. Rosa Luxemburg, Mikhail Tugan-Baranovsky and the Current State of Economic Crisis

Tracy Mott and P. Sai-wing Ho

11. Some Reflections on 'Primitive Accumulation'

Rune Skarstein

12. A Model of the Marxist Rent Theory

Debarshi Das

Part III. Duality and Underdevelopment

13. Rural Poor or Peasant-Proletarians: Agrarian Change and Labour Markets in Eastern United Provinces in the Colonial Period

Ramaa Vasudevan

14. Rising Inequality and Dualism in the US Economy: Evidence and Potential Explanations

Ivan Mendieta-Muñoz, Codrina Rada and Rudi von Arnim

15. India’s Growth Story: A Model of ‘Riskless Capitalism’?

Rohit Azad and Prasenjit Bose

16. Supporting Domestic Development Through Coordinating the  Promotion of Domestic Value Chains

P. Sai-wing Ho

Index

Biography

Deepankar Basu is Associate Professor in the Department of Economics at the University of Massachusetts Amherst, USA.

Debarshi Das is Associate Professor in the Department of Humanities and Social Sciences at the Indian Institute of Technology Guwahati, India.

Conflict, Demand and Economic Development: Essays in Honour of Amit Bhaduri demonstrates, without question, that rigorous, important and profoundly insightful economic research is alive and well outside of the narrow, and often misleading confines of ‘mainstream’ economics. The essays published here by outstanding economists working in the traditions of Marx, Keynes, Kalecki, Robinson, and Prebisch address central economic and political issues of our day, including structural unemployment, worsening inequality within and between countries, technological change, and rural economic development. These essays are of great interest and are a fitting tribute to Amit Bhaduri, who made seminal contributions to help keep alive these dynamic and crucial research traditions. 

Gerald Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts Amherst, USA 

 

Professor Amit Bhaduri has been one of the truly outstanding economists of our time, whose commitment to changing the world, has led to his refusal to be pigeonholed into any narrow specialization. He has made seminal contributions in areas as diverse as macroeconomics, capital theory, economic history and semi-feudal agriculture. The essays in this volume reflecting the diversity of his own interests are a fitting tribute to his renaissance personality. 

Prabhat Patnaik, Professor Emeritus, Center for Economic Studies and Planning, Jawaharlal Nehru University, Delhi, India