Amit Bhaduri’s distinction as an economic theorist lies in challenging mainstream theory in a precise yet compelling way. The essays in this collection, written by the author over the last quarter century, mark a fresh approach to one of the most important economic problem of our time. Why poverty and unemployment, as two sides of the same problem, appear and persist, and are often bypassed by the process of development? The author looks at this problem from a multidimensional perspective.

In the first section he discusses some of the theoretical issues involved, and point to oversights in standard theorizing on the subject. The second section draws out the connection between development of a predominantly agrarian economy and unemployment. The final section deals with the problem in the context of transitional economies of east Europe and draws lessons. In particular the essays highlight the errors from the use of orthodox theories relied on by the IMF and the World Bank.

By rejecting the uncritical and mechanical acceptance of globalization as the remedy to all evils, the author invites the reader to think independently, and thereby stimulates argument and debate.

The book will be of immense interest to graduate students of economics, researchers, professional economists, and men and women of practical affairs in economics.

‘These are excellent papers in the unorthodox, or heterodox tradition, which question conventional thinking and provide perceptive insights. The essays are written with a clarity that would make the collection reader-friendly...’ — DEEPAK NAYYAR, Professor of Economics, Jawaharlal Nehru University, New Delhi

‘There are two directions in which the work is distinctive. Firstly, it breaks with mainstream thinking on development. Second, it looks at development through the spectacles of employment rather than attempting to cover everything…the essays attain a level of scholarship that can be described as excellent.’ — AMITAVA BOSE, Professor, Indian Institute of Management Calcutta

‘The book makes a case for pro-poor growth policies rooted in expanding domestic market, accommodating both labour productivity and labour force growth. This book makes enough justification for development rethinking.’ — R. RADHAKRISHNA, Director, Indira Gandhi Institute of Development Research