ECONOMIC THEORY: Crossing the Barriers

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Dr. Akina Venkateswarlu makes an admirable attempt in this book to examine the relevance of received economic theories for the understanding of economic conditions in different periods as well as for designing policies to improve the well-being of the common people. – Prof. C.H. Hanumantha Rao, Former Planning Commission and Padma Bhushan Awardee.

Dr. Venkateswarlu has put together five different branches of economics in five Chapters bringing out their overlap and interlinkages at the core. The book (i) deals with evolution of development economics in first, second and new generation phases, while dealing with global economic changes between last two phases; (ii) presents the rise of old and new institutional economics; (iii) examines how behavioural economics grew treating human as not homo economicus; (iv) looks into financialization of the economy, while considering the finance, insurance and real estate(FIRE) sector’s growing share in the GVA of the US since 1970 and India since 1991; and (v) finally brings out the salient features of Marxian political economy, elucidating arguments with quotes from Marx’s original sources. This opens up a new window to view the evolution of economic theory and would be useful to students, researchers and teachers. – Prof. Amitabh Kundu, former Professor of Economics, Jawaharlal Nehru University, New Delhi.

Akina Venkateswarlu received his double graduation (B.Sc and BA) and M.A (Economics) from Osmania University. He got M.Phil and Ph.D degrees from Jawaharlal Nehru University, New Delhi. His Ph.D guide was late Prof. G.K.Chadha. He taught for 16 years in Government Colleges of Telangana State, and worked for about 7 years in Centre for Economic and Social Studies (CESS), Hyderabad. He was ICSSR Senior Fellow (2012-14) at CESS. Since retirement from Government, he has been consultant at CESS. He has to his credit 7 books, 3 CESS working paper/manuscripts, 30 papers published in Journals and edited Volumes. He presented paper on “Participatory Rural Development – Pindiprolu, An Indian Village”, in International Workshop at IDE, Japan. His recent books, Political Economy Agricultural Development in India and Political Economy of Controversies over the Origin of Covid-19 and Its Impact on the World and India (both from Aakar books) have been well received.