This book examines the critical themes of employment, growth and development to focus on challenges and opportunities, both old and new, in the contemporary world economy. The essential theme that runs through the book is that there is a strong relationship not only between employment and growth, but also between employment and development, where the causation runs in both directions. The author shows how employment transforms economic growth into meaningful development by providing livelihoods and incomes to people. While the book is primarily concerned with developing countries, it considers industrialized countries as points of reference or comparison, since the latter are a large part of an interdependent world, in which problems faced by the two sets of countries are frequently connected and sometimes common. The ten essays in this volume also provide a macroeconomic analysis of development problems situated in the wider context of a changing world economy, exploring possible solutions, to understand the implications for countries and for people.
A timely collection by an eminent economist, this book will be useful to teachers, students and researchers in economics, especially those interested in macroeconomics, political economy and development studies.
Table of Contents
List of figures
List of tables
PART I Employment and development
1 The financial crisis, the Great Recession and the developing world
2 Why employment matters: reviving growth and reducing inequality
3 Macroeconomics and human development
4 The millennium development goals beyond 2015: old frameworks and new constructs
PART II Growth and development
5 The West and the Rest in the world economy: the next transformation?
6 China, India, Brazil and South Africa in the world economy: engines of growth?
7 The emerging Asian giants and economic development in Africa
8 BRICS, developing countries and global governance
PART III Development, polity and society
9 Globalization and democracy
10 Discrimination and justice: beyond affirmative action
Deepak Nayyar is Professor Emeritus at Jawaharlal Nehru University, New Delhi, where he taught Economics for 25 years, and was until recently Distinguished University Professor of Economics at the New School for Social Research, New York. Earlier, he taught at the University of Oxford, the University of Sussex and the Indian Institute of Management, Calcutta. He was Vice-Chancellor of the University of Delhi (2000–2005). He also served as Chief Economic Adviser to the Government of India and Secretary in the Ministry of Finance (1989–1991). He was a Rhodes Scholar at Oxford, from where he has a D.Phil. in Economics, and is an Honorary Fellow of Balliol College, Oxford. He has published widely in academic journals. His books include Catch Up: Developing Countries in the World Economy (2013).
"Deepak Nayyar is a rare breed among economists. At a time when economists migrate to ‘fashionable’ fields like monetary economics, trade theories and derivatives, he retains an abiding interest in development economics with special reference to the growth and welfare concerns of developing countries... This book has set the tone for a larger debate on development economics."
Kandaswami Subramanian, The Hindu