Contents:
1. Arestis, Desai and Dow On Chick's Life as an Academic
2. Claudio Sardoni On the Microeconomic Foundations of Macroeconomics: a Keynesian Perspective
3. Meghnad Desai The Nature of Equilibrium in Keynes's General Theory
4. Maria Cristina Marcuzzo From the Fundamental Equations to Effective Demand: 'Natural Evolution' or 'Change of View'?
5. Alexander C. Dow and Sheila C. Dow The Relevance of Historical Experience for Economics
6. Geoffrey M. Hodgson General Theorising versus Historical Specificity: a Problem for Post Keynesians
7. Roy J. Rotheim Timeful Theories, Timeful Theorists
8. Tony Lawson Mathematical Formalism in Economics: What Really is the Problem?
9. Jan Toporowski Mathematics as Natural Law: an Epistemological Critique of Formalism in Economics
10. Giuseppe Fontana and Bill Gerrard The Encompassing Principle as an Emerging Methodology for Post Keynesian Economics
11. Athol Fitzgibbons A Note on Non-Walrasian Macroeconomics
12. Suzanne W. Helburn Marshall and Keynes on Rational (Ethical) Economic Man
13. B. J. Loasby Cognition and Co-ordination
14. Donald Gillies and Grazia Ietto-Gillies Keynes's Notion of Causa Causans and its Application to the Globalization Process
15. Fabiana Santos and Marco Crocco Technology and the Need for an Aternative View of the Firm in Post Keynesian Theory
16. Ian Steedman Consumer Beliefs and a Possible Welfare 'Gain' from Monopoly
17. David Pearce The Political Economy of Economic growth and Environmental Protection
18. Carmen Aparecida Feijo Firms and Banks Interacting in a Monetary Production Economy
19. Adriana M. Amado The Regional Impact of the Internationalization of the Financial System: the Case of Mercosul
20. Jochen Runde Assessing Credit Worthiness and Small-Firm Bank Lending
21. P. A. Riach and J. Rich Women's Work or Work for Women?
22. Victoria Chick's Publications

Meghnad Desai's work presents a significant challenge to economics as currently practised. This volume brings together a collection of essays on issues in macroeconomics and monetary theory from an unorthodox but rigorous position. Beginning with a series of essays which address the inflation problem using an extension of the Goodwin model, the volume continues with his revisionist interpretation of the Phillips Curve, assessments of monetarism, discussion of the economics of Keynes and Hayek, and an original paper on monetary theory. Later chapters include the author's work on applied econometrics, endogenous and exogenous money, and financial innovation. The volume also includes a substantial autobiographical preface, in which Lord Desai explains how he became an economist and the influences behind the development of his thought, as well as a specific introduction explaining how he came to produce the papers included in this volume.

This volume, along with its companion volume, Methodology, Microeconomics and Keynes is published in honour of Victoria Chick, inspired by her own contributions to knowledge in all of these areas and their interconnections. It represents both consolidation and the breaking of new ground in Keynesian monetary theory and macroeconomics by leading figures in these fields.

Meghnad Desai's work presents a significant challenge to economics as currently practised. Poverty, Famine and Economic Development brings together essays which reflect his long-standing interest in economic development. Issues discussed include econometric testing of the disguised unemployment hypothesis, theoretical and applied approaches to famine, poverty in rich as well as poor countries, poverty in Latin America and state involvement in economic development. The volume also includes a discussion of the essay by Lenin which was the basis of the 'New Economic Policy', the first attempt at Market Socialism in the Soviet Union. The volume also includes a substantial autobiographical preface, in which Lord Desai explains how he became an economist and the influences behind the development of his thought, as well as a specific introduction explaining how he came to produce the papers included in this volume.

Contents:
1. Introduction Meghnad Desai and Yahia Said 2. Financial Crises and Global Governance Meghnad Desai
3. Asset Price Bubbles and Monetary Policy Franklin Allen and Douglas Gale 4. The International Monetary Fund: Past and Future Michel Aglietta 5. Regulating Global Finance: rival conceptions of world order Andrew Gamble
6. Crises, Recovery and Reforms in East Asia Jomo K.S. 7. Mexico, Korea and Brazil: three paths to financial crises

This volume, along with its companion volume, Methodology, Microeconomics and Keynes is published in honour of Victoria Chick, inspired by her own contributions to knowledge in all of these areas and their interconnections. It represents both consolidation and the breaking of new ground in Keynesian monetary theory and macroeconomics by leading figures in these fields.

eBook available with sample pages: 0203467477

This volume, a companion to Money, Macroeconomics and Keynes, represents both consolidation and the breaking of new ground in Keynesian methodology and microeconomics by leading figures in these fields.

The editors of this book have pulled together a collection of chapters that review the spate of financial crises that have occurred in recent years starting with Mexico in 1994 and moving on to more recent crises in Turkey and Argentina. With impressive contributors such as Douglas Gale, Gabriel Palma and Andrew Gamble, the book is a timely and authoritative study. Global Governance and Financial Crises provides a new understanding of this important area with a combination of economic history and political economy as well as the most recent developments in analytical economic theory. Students, researchers and policy makers would do well to read it and learn some important lessons for the future.

The Right Honourable Harry White is charismatic, politically savvy, and has a way with the ladies. There is only one thing he cannot work up any enthusiasm for, and that's football. But prime ministers don't always have a choice when it comes to the expectations of their electorate, so Harry White cannot but accept the invitation to attend the biggest match of them all: the Old Firm game between the Rangers and the Celtics, traditional Scottish rivals. The day at 10 Downing Street begins like any other, every minute packed with discussion, argument, strategic movements of people and policies, and the odd flirtation. There is a call from the American president, a hurried lunch with a media mogul obsessed with tax returns, a clever deflection of potential trouble within the party, before the prime minister and his entourage are finally ready for the game that is to be the last item on their agenda. Ready too, are the two men who have waited many years for this moment...An unexpected first novel by the well-known economist and political commentator, "Dead on Time" is a delightful mix of action, humour and real politik. The events taking shape at 10 Downing Street and in the parallel corridors of power in England, America and the Middle East capture the tensions and constant realignments that characterize global politics today.

Testing Monetarism pursues the complex question of the nature of the controversy surrounding monetarist theory and evidence, and the reasons for the persistence of this controversy. The theory of monetarism is examined in its old guise as the Quantity Theory of Money, and subsequent chapters look at the evolution of the theory to its present form in the period since the 1950's, and Desai weaves together issues of theory with those of econometric evidence. He looks in turn at major predictions of monetarism, critically examining the claims made in the literature in the light of his discussion of the methodology of testing theories and highlights flaws in the empirical data surrounding monetarism.

What makes India a nation? What has held its many disparate societies with their diverse, sometimes conflicting, narratives together for more than sixty years? What has allowed India to sustain its commitment to the democratic process, given its location in a region that is largely undemocratic? In this magisterial analysis of the last five hundred years of Indian history, Meghnad Desai looks at India's colonial past, its struggle for independence and its many contemporary conundrums, to discover answers to the questions that have confronted India-watchers for decades. Meghnad Desai draws on a wealth of sources to illuminate India's journey to the twenty-first century. Whether it is an examination of British parliamentary debates on the question of India's independence, or the liberalization of the economy after decades of licence-permit Raj, or the state's complicity in the Gujarat riots, Meghnad Desai's original, occasionally iconoclastic, approach to seemingly settled arguments makes The Rediscovery of India a ground-breaking and comprehensive account of India's past and present.

Despite increasingly frantic calls - especially after the London bombings of July 7, 2005 - for western leaders to 'understand Islam better', there is a still a critical distinction that needs to be made between 'Islam' as religion and 'Islamism' in the sense of militant mindset. As the author of this provocative new book sees it, it is not a more nuanced understanding of Islam that will help the western powers defeat the jihadi threat, but rather a proper understanding of Islamism: a political ideology which is quite distinct from religion. While Islamism may be draped in religious imagery and suffused by apocalyptic language, it nevertheless is similar in nature to secular ideologies of terror. And once, the author holds, this is properly appreciated, the ways to defeat it will become much better evident. Historically sophisticated and passionately argued, "Rethinking Islamism" makes a powerful case by a master theorist of political philosophy. It will be essential reading for students and policy-makers in the fields of politics, current affairs and religion.

The second book in the "Cross-border Talks" series examines why India is a democracy while Pakistan is not. Meghnad Desai identifies the revolutionary decision of the Constituent Assembly to adopt universal adult franchise as the key to the survival of democracy in India. The overwhelming desire of the leaders of the independence movement, many of whom were educated in England, was for a Westminster-style democracy. The adoption of this model led to demands for inclusion from lower and backward castes and Dalits, and today Indian democracy is a heady and vigorous mix of ethnic and immigrant groups, class cleavages as well as rural/urban and North/South divisions. Aitzaz Ahsan argues that at Partition, while India had a strong middle class and political structure and a subordinated civil and military bureaucracy, in Pakistan it was the opposite. It inherited a strong feudal class, an insignificant bourgeoisie and an entrenched civil and military bureaucracy. These vested interests have never relinquished their control over the country, and have in the process choked the spirit of democracy there.

In this provocative and enthusiastically revisionist book, the distinguished economist Meghnad Desai argues that capitalism's recent efflorescence is something Karl Marx anticipated and indeed would, in a certain sense, have welcomed. Capitalism, as Marx understood it, would only reach its limits when it was no longer capable of progress. Desai argues that globalization, in bringing the possibility of open competition on world markets to producers in the Third World, has proved that capitalism is still capable of moving forwards. Marx's Revenge opens with a consideration of the ideas of Adam Smith and Hegel. It proceeds to look at the nuances in the work of Marx himself, and concludes with a survey of more recent economists who studied capitalism and attempted to unravel its secrets, including Joseph Schumpeter, John Maynard Keynes and Friedrich Hayek.

Peasants are a majority of the world's poor. Despite this, there has been little effort to bridge the fields of peasant and poverty studies. Peasant Poverty and Persistence in the Twenty-first Century provides a much-needed critical perspective linking three central questions: Why has peasantry, unlike other areas of non-capitalist production, persisted? Why are the vast majority of peasants poor? And how are these two questions related? Interweaving contributions from various disciplines, the book provides a range of responses, offering new theoretical, historical and policy perspectives on this peasant 'world drama'. Scholars from both South and North argue that, in order to find the policy paths required to overcome peasants' misery, we need a seismic transformation in social thought, to which they make important contributions. They are convinced that we must build upon the peasant economy's advantages over agricultural capitalism in meeting the challenges of feeding the growing world population while sustaining the environment. Structured to encourage debate among authors and mutual learning, Peasant Poverty and Persistence takes the reader on an intellectual journey toward understanding the peasantry.

A frank assessment of economists' blindness before the financial crash in 2007-2008 and what must be done to avert a sequel The failure of economists to anticipate the global financial crisis and mitigate the impact of the ensuing recession has spurred a public outcry. Economists are under fire, but questions concerning exactly how to redeem the discipline remain unanswered. In this provocative book, renowned economist Meghnad Desai investigates the evolution of economics and maps its trajectory against the occurrence of major political events to provide a definitive answer. Desai underscores the contribution of hubris to economists' calamitous lack of foresight, and he makes a persuasive case for the profession to re-engage with the history of economic thought. He dismisses the notion that one over-arching paradigm can resolve all economic eventualities while urging that an array of already-available theories and approaches be considered anew for the insights they may provide toward preventing future economic catastrophes. With an accessible style and keen common sense, Desai offers a fresh perspective on some of the most important economic issues of our time.

Since the end of the Cold War, federal funding for research at American universities has sharply decreased, leaving administrators searching for a new benefactor. At the same time, changes in federal policy permitting universities to patent, license, and profit from their discoveries combined with the emergence of new fields that thinned the lines between "basic" and "applied" research to make universities an attractive partner to private industry. This reorientation from public to private funding has created new challenges for the academy. In thirteen insightful and wide-ranging essays, Defining Values for Research and Technology examines the modern research university in the throes of transition. Contributors discuss the tensions of research versus education, public funding versus corporatization, and the academic freedom of open discussion versus the secrecy needed to ensure financial gain. Will universities and their professors pursue industrial imperatives at the expense of traditional academic values, or will they harness the energy of industry to advance a mission of research for the public good? Defining Values for Research and Technology, while acknowledging potential dangers, argues that university-industry partnerships have the potential to both benefit industrial expansion and enrich academic life. In doing so, it raises important points about the connections between "pure" science and industrialized technology more generally, and the role that policy plays in science. Both those interested in the evolution of the academy and scholars of the history and sociology of science will find something worthwhile within its pages.

Since the end of the Cold War, federal funding for research at American universities has sharply decreased, leaving administrators searching for a new benefactor. At the same time, changes in federal policy permitting universities to patent, license, and profit from their discoveries combined with the emergence of new fields that thinned the lines between 'basic' and 'applied' research to make universities an attractive partner to private industry. This reorientation from public to private funding has created new challenges for the academy. In thirteen insightful and wide-ranging essays, Defining Values for Research and Technology examines the modern research university in the throes of transition. Contributors discuss the tensions of research versus education, public funding versus corporatization, and the academic freedom of open discussion versus the secrecy needed to ensure financial gain. Will universities and their professors pursue industrial imperatives at the expense of traditional academic values, or will they harness the energy of industry to advance a mission of research for the public good? Defining Values for Research and Technology, while acknowledging potential dangers, argues that university-industry partnerships have the potential to both benefit industrial expansion and enrich academic life. In doing so, it raises important points about the connections between 'pure' science and industrialized technology more generally, and the role that policy plays in science. Both those interested in the evolution of the academy and scholars of the history and sociology of science will find something worthwhile within its pages.