It is claimed that today’s global economy and global capitalism are shaped by finance capital as ... more It is claimed that today’s global economy and global capitalism are shaped by finance capital as distinct from industrial capital. This paper is an attempt to decipher the meaning of finance capital in the present context of globalization and also in terms of the relation with what is known today as financialization. Finally, through some empirical facts (with respect to global economy at large and the Indian economy in general) we have tried to relate theory with empirics. The final point which this paper strives to drive home is the fact that the question of finance today can never be delinked from the question of labour. This becomes obvious from the theoretical perspective of capital in general as laid down in Marx’s magnum opus—Capital.
India is the seventh largest (by area) and the second most populous country in the world, with ro... more India is the seventh largest (by area) and the second most populous country in the world, with roughly one-sixth of its population, of about a billion and a quarter. It is the world's largest democracy. It is one of the world's oldest civilizations yet, a very young nation. Elections to its Parliament are held once every 5 years. It is a constitutional republic governed under the world's longest written constitution, federally consisting of 28 states and seven centrally administered union territories. The country has three main national parties: the Indian National Congress (INC), Bharatiya Janata Party (BJP), and the Communist Party of India (Marxist) (CPIM). The Indian National Congress has governed the country for three-fourth of the time since Independence from Britain in 1947, under the de facto one party system and now, under the dominant-party system in a coalition government. At the level of its states, many regional parties stand for elections to state legislatu...
Taking the period following the advent of liberalization, this book explains the transition of th... more Taking the period following the advent of liberalization, this book explains the transition of the Indian economy against the backdrop of development. If the objective is to explore the new economic map of India, then the distinct contributions in the book could be seen as twofold. The first is the analytical frame whereby the authors deploy a unique Marxist approach consisting of the initial concepts of class process and the developing countries to address India's economic transition. The second contribution is substantive whereby the authors describe India's economic transition as epochal, materializing out of the new emergent triad of neo-liberal globalization, global capitalism and inclusive development. This is how the book theorizes the structural transformation of the Indian economy in the twenty-first century. Through this framework, it interrogates and critiques the given debates, ideas and policies about the economic development of a developing nation.
1. India, The Great Depression and Britain's Demise as World Capitalist Leader, Utsa Patnaik ... more 1. India, The Great Depression and Britain's Demise as World Capitalist Leader, Utsa Patnaik 2. Illegal Flows in India's BOP Accounts: Its Components and Impact on the Economy, Arun Kumar 3. Some aspects of External Dimensions of Indian Economy in the Age of Globalisation, Byasdeb Dasgupta 4. Macroeconomic Policy within Cycles of International Capital Flows: The Indian Experience, Sukanya Bose 5. Multinationals and Monopolies: Pharmaceutical Industry in India after TRIPS, Sudip Chaudhuri 6. Regional Economic Integration: New Context and Analytical Constructs, Ram Upendra Das 7. Political Economy of Development Planning and Reforms in India - Evolution of the Plan Philosophy over the Years, Suparna Karmakar
The outbreak of the Novel Corona Virus pandemic has brought to the fore the fact that the Indian ... more The outbreak of the Novel Corona Virus pandemic has brought to the fore the fact that the Indian economy is run to a large extent, if not to the largest extent, by the inter-state migrant workers. One report has in recent time claimed that approximately India’s 100 million migrant workers are responsible for 10 per cent of annual GDP of India. We are not sure whether exactly there are 100 million inter-state migrant workers in India or more than that. The official statistics in this regard is quite dated which puts the number of migrant workers in India at 139 million. Newspaper reports both in English dailies and vernaculars following the outbreak of the pandemic and announcement of lockdown by the Union Government have reported that there are more than this number of migrant workers in India. If we take these reports to be correct in the absence of any latest official data then the contribution of the internal migrant workers in Indian economy will be more than 10 per cent of her ...
External dimensions of Indian economy in the age of globalisation are viewed in this paper in ter... more External dimensions of Indian economy in the age of globalisation are viewed in this paper in terms of unabated opening up of the economy with respect to both trade and foreign capital flows. This paper empirically shows that with more opening up of the economy there is more and more transfer of financial resources abroad from the Indian economy. So opening up through neoliberal globalisation is a ploy of global capitalism to extract super duper surplus from India. Analytically also the paper makes an attempt to negate the recent policy reforms (as is imminent in allowing FDI in multi-brand retail, aviations and insurance and in relentless efforts of the Government in slashing down fiscal deficit) as anti-growth and more attuned to the interests of global finance and capital.
This chapter links labour market flexibility with capital accumulation in the context of a post-c... more This chapter links labour market flexibility with capital accumulation in the context of a post-colonial country like India. The chapter is organized in four sections starting with an understanding of neoliberal age and the nature of capital accumulation in general in the context of a post-colonial economic space. This is followed by an analysis of labour market flexibility. The liberal era which is supposedly characterized by rigid labour laws with an interventionist state in Keynesian sense is marked with growing strength of trade unions and labour organizations in the West and in post-colonial emerging economy like India. The neoliberal age is marked with a diametrically opposite tendency, namely, the weakening of these organizations by the neoliberal states all over the world, North and South alike. This too has some significant implications for both voice representations of labour as well as capital accumulation in the Marxian sense of the latter term. In the third section, the...
1. Finance And Growth Under Capitalism, Prabhat Patnaik 2. The Global Financial Crisis: Lessons W... more 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
... Jaya Melhta Jayati Ghosh Kamla Prasad Kamal Nayan Kabra Mira Shiva MAOomen ... published by :... more ... Jaya Melhta Jayati Ghosh Kamla Prasad Kamal Nayan Kabra Mira Shiva MAOomen ... published by : DELHI SCIENCE FORUM (English) & VIKAS: Society for Peoples Development (Hindi) For orders, write to: B-1, 2nd Floor, LSC, J Block, Saket, New Delhi-17. ...
Development Alternatives: Theories and …, Jan 1, 2004
Chapter 7 Country Credit Rating Practices-The Indian Experience* BYASDEB DASGUPTA and SUNANDA SEN... more Chapter 7 Country Credit Rating Practices-The Indian Experience* BYASDEB DASGUPTA and SUNANDA SEN Introduction Assessment of risks involved in extending credit to the developing countries has been in vogue since the early seventies. It has received a renewed vigour ...
It is claimed that today’s global economy and global capitalism are shaped by finance capital as ... more It is claimed that today’s global economy and global capitalism are shaped by finance capital as distinct from industrial capital. This paper is an attempt to decipher the meaning of finance capital in the present context of globalization and also in terms of the relation with what is known today as financialization. Finally, through some empirical facts (with respect to global economy at large and the Indian economy in general) we have tried to relate theory with empirics. The final point which this paper strives to drive home is the fact that the question of finance today can never be delinked from the question of labour. This becomes obvious from the theoretical perspective of capital in general as laid down in Marx’s magnum opus—Capital.
India is the seventh largest (by area) and the second most populous country in the world, with ro... more India is the seventh largest (by area) and the second most populous country in the world, with roughly one-sixth of its population, of about a billion and a quarter. It is the world's largest democracy. It is one of the world's oldest civilizations yet, a very young nation. Elections to its Parliament are held once every 5 years. It is a constitutional republic governed under the world's longest written constitution, federally consisting of 28 states and seven centrally administered union territories. The country has three main national parties: the Indian National Congress (INC), Bharatiya Janata Party (BJP), and the Communist Party of India (Marxist) (CPIM). The Indian National Congress has governed the country for three-fourth of the time since Independence from Britain in 1947, under the de facto one party system and now, under the dominant-party system in a coalition government. At the level of its states, many regional parties stand for elections to state legislatu...
Taking the period following the advent of liberalization, this book explains the transition of th... more Taking the period following the advent of liberalization, this book explains the transition of the Indian economy against the backdrop of development. If the objective is to explore the new economic map of India, then the distinct contributions in the book could be seen as twofold. The first is the analytical frame whereby the authors deploy a unique Marxist approach consisting of the initial concepts of class process and the developing countries to address India's economic transition. The second contribution is substantive whereby the authors describe India's economic transition as epochal, materializing out of the new emergent triad of neo-liberal globalization, global capitalism and inclusive development. This is how the book theorizes the structural transformation of the Indian economy in the twenty-first century. Through this framework, it interrogates and critiques the given debates, ideas and policies about the economic development of a developing nation.
1. India, The Great Depression and Britain's Demise as World Capitalist Leader, Utsa Patnaik ... more 1. India, The Great Depression and Britain's Demise as World Capitalist Leader, Utsa Patnaik 2. Illegal Flows in India's BOP Accounts: Its Components and Impact on the Economy, Arun Kumar 3. Some aspects of External Dimensions of Indian Economy in the Age of Globalisation, Byasdeb Dasgupta 4. Macroeconomic Policy within Cycles of International Capital Flows: The Indian Experience, Sukanya Bose 5. Multinationals and Monopolies: Pharmaceutical Industry in India after TRIPS, Sudip Chaudhuri 6. Regional Economic Integration: New Context and Analytical Constructs, Ram Upendra Das 7. Political Economy of Development Planning and Reforms in India - Evolution of the Plan Philosophy over the Years, Suparna Karmakar
The outbreak of the Novel Corona Virus pandemic has brought to the fore the fact that the Indian ... more The outbreak of the Novel Corona Virus pandemic has brought to the fore the fact that the Indian economy is run to a large extent, if not to the largest extent, by the inter-state migrant workers. One report has in recent time claimed that approximately India’s 100 million migrant workers are responsible for 10 per cent of annual GDP of India. We are not sure whether exactly there are 100 million inter-state migrant workers in India or more than that. The official statistics in this regard is quite dated which puts the number of migrant workers in India at 139 million. Newspaper reports both in English dailies and vernaculars following the outbreak of the pandemic and announcement of lockdown by the Union Government have reported that there are more than this number of migrant workers in India. If we take these reports to be correct in the absence of any latest official data then the contribution of the internal migrant workers in Indian economy will be more than 10 per cent of her ...
External dimensions of Indian economy in the age of globalisation are viewed in this paper in ter... more External dimensions of Indian economy in the age of globalisation are viewed in this paper in terms of unabated opening up of the economy with respect to both trade and foreign capital flows. This paper empirically shows that with more opening up of the economy there is more and more transfer of financial resources abroad from the Indian economy. So opening up through neoliberal globalisation is a ploy of global capitalism to extract super duper surplus from India. Analytically also the paper makes an attempt to negate the recent policy reforms (as is imminent in allowing FDI in multi-brand retail, aviations and insurance and in relentless efforts of the Government in slashing down fiscal deficit) as anti-growth and more attuned to the interests of global finance and capital.
This chapter links labour market flexibility with capital accumulation in the context of a post-c... more This chapter links labour market flexibility with capital accumulation in the context of a post-colonial country like India. The chapter is organized in four sections starting with an understanding of neoliberal age and the nature of capital accumulation in general in the context of a post-colonial economic space. This is followed by an analysis of labour market flexibility. The liberal era which is supposedly characterized by rigid labour laws with an interventionist state in Keynesian sense is marked with growing strength of trade unions and labour organizations in the West and in post-colonial emerging economy like India. The neoliberal age is marked with a diametrically opposite tendency, namely, the weakening of these organizations by the neoliberal states all over the world, North and South alike. This too has some significant implications for both voice representations of labour as well as capital accumulation in the Marxian sense of the latter term. In the third section, the...
1. Finance And Growth Under Capitalism, Prabhat Patnaik 2. The Global Financial Crisis: Lessons W... more 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
... Jaya Melhta Jayati Ghosh Kamla Prasad Kamal Nayan Kabra Mira Shiva MAOomen ... published by :... more ... Jaya Melhta Jayati Ghosh Kamla Prasad Kamal Nayan Kabra Mira Shiva MAOomen ... published by : DELHI SCIENCE FORUM (English) & VIKAS: Society for Peoples Development (Hindi) For orders, write to: B-1, 2nd Floor, LSC, J Block, Saket, New Delhi-17. ...
Development Alternatives: Theories and …, Jan 1, 2004
Chapter 7 Country Credit Rating Practices-The Indian Experience* BYASDEB DASGUPTA and SUNANDA SEN... more Chapter 7 Country Credit Rating Practices-The Indian Experience* BYASDEB DASGUPTA and SUNANDA SEN Introduction Assessment of risks involved in extending credit to the developing countries has been in vogue since the early seventies. It has received a renewed vigour ...
The Indian Economy in Transition: Globalization, Capitalism and Development
Authors:
Anjan Cha... more The Indian Economy in Transition: Globalization, Capitalism and Development
Authors:
Anjan Chakrabarti, University of Calcutta Anup K. Dhar, Ambedkar University Byasdeb Dasgupta, University of Kalyani
Taking the period following the advent of liberalization, this book explains the transition of the Indian economy against the backdrop of development. If the objective is to explore the new economic map of India, then the distinct contributions in the book could be seen as twofold. The first is the analytical frame whereby the authors deploy a unique Marxist approach consisting of the initial concepts of class process and the developing countries to address India's economic transition. The second contribution is substantive whereby the authors describe India's economic transition as epochal, materializing out of the new emergent triad of neo-liberal globalization, global capitalism and inclusive development. This is how the book theorizes the structural transformation of the Indian economy in the twenty-first century. Through this framework, it interrogates and critiques the given debates, ideas and policies about the economic development of a developing nation.
Explains the transition of the Indian economy against the backdrop of development issues.
Interrogates and critiques the given debates, ideas and policies about Indian economic transition and development.
Examines various aspects of India's transition over recent years - land acquisition, privatization, informal sector, micro credit, agricultural crisis, labor laws.
...
'[This] book is genuinely original and profound. It does not rehearse well-trod and well-known conventional discussions of Indian economic development. Here is both theoretical advance and an exploration of insights enabled by that advance. A new kind of critical Marxian theory is presented and extended, bringing readers the latest developments in this global tradition of radical thought. A new sense of the Indian economy - what 'transitions' are and are not occurring - emerges in powerful analytics … Bravo for an exceptional achievement and contribution.' Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst.
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Papers by Byasdeb Dasgupta
Authors:
Anjan Chakrabarti, University of Calcutta
Anup K. Dhar, Ambedkar University
Byasdeb Dasgupta, University of Kalyani
Date Published: December 2015
Read more at http://www.cambridge.org/gb/academic/subjects/politics-international-relations/political-economy/indian-economy-transition-globalization-capitalism-and-development#EeHtXITrf8JZx06V.99
Taking the period following the advent of liberalization, this book explains the transition of the Indian economy against the backdrop of development. If the objective is to explore the new economic map of India, then the distinct contributions in the book could be seen as twofold. The first is the analytical frame whereby the authors deploy a unique Marxist approach consisting of the initial concepts of class process and the developing countries to address India's economic transition. The second contribution is substantive whereby the authors describe India's economic transition as epochal, materializing out of the new emergent triad of neo-liberal globalization, global capitalism and inclusive development. This is how the book theorizes the structural transformation of the Indian economy in the twenty-first century. Through this framework, it interrogates and critiques the given debates, ideas and policies about the economic development of a developing nation.
Explains the transition of the Indian economy against the backdrop of development issues.
Interrogates and critiques the given debates, ideas and policies about Indian economic transition and development.
Examines various aspects of India's transition over recent years - land acquisition, privatization, informal sector, micro credit, agricultural crisis, labor laws.
...
'[This] book is genuinely original and profound. It does not rehearse well-trod and well-known conventional discussions of Indian economic development. Here is both theoretical advance and an exploration of insights enabled by that advance. A new kind of critical Marxian theory is presented and extended, bringing readers the latest developments in this global tradition of radical thought. A new sense of the Indian economy - what 'transitions' are and are not occurring - emerges in powerful analytics … Bravo for an exceptional achievement and contribution.' Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst.