The book is a collection of essays written by scholars of global repute in honour of Professor Sunanda Sen. Each paper is well-researched and offers some new dimension to the understanding of the current global crisis, finance and labour including the epistemological viewpoints regarding the current global order. The uniqueness of the book is that in one place one can find different heterodox positions dealing with the present global order of finance and labour – post-Keynesian, Marxist etc.
The contents of the book can be classified into three major sections – (1) global finance dealing with current global crisis; (2) methodological/epistemological concerns in terms of the global crisis, and (3) labour in the context of neoliberal global capitalism characterised by the process of financialisation. The entire book is an attempt to decipher the meaning and significance the process of financialisation produces for the real economy. One of the major conclusions drawn from the different studies in the book relates to the fact that global finance as it has been shaped today cannot delinked from the question of labour. The current global finance regime warrants neoliberal labour flexibility regime, the latter guaranteeing the necessary surplus generation for the pervasive finance.
This book offers an analysis of current global crisis relating it to the present-day global finance and labour in terms of the process of neoliberal financialisation a flexible labour regime. It is based on non-mainstream heterodox approach in Economics and as such is a critique of the mainstream neoclassical position on current global crisis. The contents of the book will be of immense use to the researchers and students dealing with current global crisis, global finance and labour.
1. Finance And Growth Under Capitalism, Prabhat Patnaik 2. The Global Financial Crisis: Lessons We Should Have Learned and An Agenda for Reform, L. Randall Wray 3. The Problem of Power in Finance in India and Brazil, Gary Dymsky 4. The Social Impact of Globalisation, Jan Kregel 5. Financialisation, Labour Market Flexibility and Global Crisis - A Marxist Perspective, Byasdeb Dasgupta 6. The Evolution of Income Distribution in Semi-Industrialised Economies of Latin America - Assessment in terms of Economic Theories, Pierre Salama 7. A Methodological Agenda for New Economic Thinking, Maria Cristina Marcuzzo 8. Rethinking the Falling Rate of Profit and the Crisis of Capitalism, Anjan Chakrabarti and Anup Kumar Dhar 9. Comparative Advantage, Industrial Policy And The World Bank: Back To First Principles, Ajit Singh 10. Development in a Time of Financial Crises: How Good is the Bad News? Re-orienting Macroeconomic Policies, Jayati Ghosh 11. Globalization and the Labour Movement: Challenges and Responses, Ronaldo P. Munck 12. Informal Employment in Thailand, Sukti Dasgupta, Ruttiya Bhula and Tiraphap Fakthong