Macroeconomic Theory and Policy : Critical Essays on the Dynamics of Capitalism

Contents: I. Dynamics of the capitalist economy: focus on the domestic market: 1. An introduction to the principle of effective demand. 2. Making sense of the aggregate demand supply model. 3. Unemployment and the real wage the economic basis for contesting political ideologies. 4. Joblessness. 5. Labour market flexibility and economic expansion. 6. On the dynamics of profit led and wage led growth. 7. The political economy of social democracy. 8. Structural change and economic development on the relative roles of effective demand and the price mechanism in a dual economy. II. Dynamics of the capitalist economy: focus on foreign market: 9. Some implications of economic openness with special reference to India. 10. Short period macroeconomic aspects of foreign aid. 11. The impact of globalization on Indian economic development. III. Long run dynamics: economic growth and ideology: 12. Capitalistic accumulation in logical and historical time. 13. Increasing returns and the division of labour in the theory of economic development. 14. Predatory growth. 15. a failed world view.