Economic Challenges for the Contemporary World

Essays in Honour of Prabhat Patnaik

In view of Prabhat Patnaik’s role in advocating progressive reforms and ideas in the global economy, this volume, in his honour, questions conventional thinking in mainstream economics and policy.

This book brings together diverse scholarship on various aspects of economic development that underscore the importance of tackling dominant and contemporary issues concerning the national and global economy. Divided into five distinct themes—economic growth, engaging with globalisation, poverty and inequality, macroeconomic issues, political economy and developmental aspects—the essays outline significantly contrasting methodologies that are used to deal with issues of vital importance.

Topical and up-to-date, the volume challenges the laissez faire philosophy and highlights the weaknesses of a free market as well as its inability to deal with the current issues.