Development on Trial

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.