Developing countries today are subject to a process of transformation, from what could be identified as a developmental State to one where the market emerges as the major driving force in the economy.
Development on Trial analyses the changing links between State policies and corporate structures as the goal of development in these economies weaken, crumble and then fall apart to give way to a steady withdrawal of the State. This goes with the growing and imperious control exercised by big businesses in the process.
The authors unravel the contradictions between the State and the market as has been spelt out in liberal theory. They draw attention to the new pattern usually described as corporate feudalism where corporations replace or co-opt the ruling State in these countries.
This volume has been organised in four sections. The first deals with the State and corporatisation of business. The second section deals with colonial trade patterns, trade, employment and structural changes relating to India and other developing countries during the recent years.
The third section discusses aspects of mobile capital, volatility, and financial exclusion in de-regulated capital markets—issues which have of late been drawing a lot of attention in public debates. The last section studies the dimensions of labour market flexibility in India and in the developing areas in general.
Bringing together essays by well-known economists from India and abroad, this volume is an indispensable read for students and scholars of economics and development studies.
Sunanda Sen is a former Professor of Economics, Jawaharlal Nehru University, New Delhi.
Anjan Chakrabarti is Professor of Economics, University of Calcutta, Kolkata, West Bengal.
Tables and Figures
List of Abbreviations
I STATE, MARKET AND DEVELOPMENT
1. Lunging Towards Corporate Feudalism
Amiya Kumar Bagchi
2. State, Liberalism and Globalisation
Theotonio Dos Santos
II TRADE REGIMES AND STRUCTURAL CHANGES
3. Imperial Legacy: The Persistence of Colonial Trade Patterns
Aditya Bhattacharjea and Rashmi Banga
4. Trade, Employment and Growth Trajectories in Developing Asia
Jayati Ghosh and C. P. Chandrashekhar
5. Industry and Services in Growth and Structural Change in India since Independence: Some Unexplored Features
III FINANCIALISATION AND DEVELOPMENT
6. Capital Flows and the Level of Activity
7. Global Finance: On the Move to Stock Market Capitalism
8. Analytical Aspects of Financial Access and Financial Exclusion: Context, Concepts and Graphical Approaches
Gary A. Dymski
9. The Global Crisis and the Remedial Actions: A Non-mainstream Perspective
10. Latin America: Rethinking Financial Dependency
IV LABOUR MARKET FLEXIBILITY
11. Globalisation, Labour and the Polanyi Problem, Or the Issue of Counter-hegemony
12. The Politics and Discourse of Flexicurity in the Age of Globalisation
13. Disinterring the Report of National Commission on Labour: A Marxist Perspective
Anjan Chakrabarti and Byasdeb Dasgupta
14. Recasting Workers’ Rights in the Era of Neo-liberalism: Industrial Restructuring to the Subtleties of Global Inequality
15. Labour Market Flexibility: An Empirical Inquiry into Neo-liberal Propositions
16. When Our Lips Speak ‘Genderlabour’ Together
Anup Dhar and Byasdeb Dasgupta
Notes on the Contributors