Essays in the Reconstruction of Political Economy

Description

A distinguished economic theorist of international fame, Amit Bhaduri stands out for challenging consistently the conventional wisdom of mainstream economics. Through his innovative research he has shown systematically how the postulates of individual rationality and methodological individualism of economic orthodoxy ignore the role of power which should be the centre piece of economic analysis. Fifteen less technical of his essays, written over the last three decades and collected in this volume, give a flavour of how political economy is shaped by power in a historical process. Often basing on the macroeconomic tradition of Marx, Kalecki and Keynes, and combining it with his own field observations as an activist-researcher, these essays indicate the way in which political economy can be fruitfully reformulated.