The political economy of India: From the law of value to structuralist macroeconomics

Document Type

Syllabus

Publication Date

1-1-2020

Abstract

In the 1960s a distinguished school of thought on the social and economic evolution of India arose. History is defined as the representation in chronological order of successive changes in the means and relations of production. Profit and rent occur in agriculture, industry, trade and commerce in various forms which are manifested in fragmentation of classes. The relationship between profit and rent is no less significant than that between wage and profit. This chapter is concerned mainly with the former which would provide the theory for interpreting the political economy of India. The task of political economy is to identify the contradictions, to relate them, and to explain the pattern of evolution of the object. Whether India’s agriculture has or ever had all the essential features of European feudalism still remains a subject of controversy.

Identifier

85121174649 (Scopus)

ISBN

[9781135247942]

Publication Title

Economics as Ideology and Experience Essays in Honour of Ashok Mitra

External Full Text Location

https://doi.org/10.4324/9781315037721-14

First Page

169

Last Page

186

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