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Against the background of the duality in development, this book focuses on structural deficiencies for a steady growth rate, and how to make growth inclusive. It analyses the Indian economy and other developing countries in the twenty-first century.

The highly productive Information and Communications Technology industry has sharply divided the opinions between those who believe that it represents a radical transformation of the capitalist order and those who believe that it is just more of the same. This study draws attention to a critical indicator: The balance of work and leisure in the daily life of a worker that has gradually evolved in the course of capitalist development is now tilting significantly against leisure despite productivity growth. Here, this paradox is explained by the quality composition of knowledge workers as well as—in contrast to what neoliberalism makes us believe—the growing hegemony of business organizations over that of market.

An excessive export of capitalfrom Britain during 1870-1914 allegedly reduced the domestic rate of investment. Few studies have really tried to find out how much of the nominal sum in each case was taken up by British investors, and how much of that, in turn, actually found its way abroad. The profits that accrued from trade in colonial products are either ignored altogether or grossly underestimated in the usual accounts of 'benefits of imperialism'. Drawing on Indo-British official trade statistics as well as on private papers, this article re- examines Keynes'estimate of 'drain' from England into India based on the sales of Council Bills. The conclusions of this study are: (a) the profits on Indo-British commodity value chains were much higher than they were assumed to be; and (b) a very large part of the 'British'capital outflom to colonies was in fact recycled profits made on colonial trade.

"This book explores the impact of neoliberal globalization on labour markets and the state in the developed and developing world. It focuses especially on the United States and the economies of Asia - in particular, India. Liberalized trade and investment are thought by neoliberals to be the best levers for raising labour standards, provided labour market flexibility and capital market restructuring accompany them. Labour market flexibility and capital market restructuring, at a first glance, appear to be complementary and symmetric policies. In practice, however, they often have very asymmetric consequences." "This book will be of interest to students and academics studying International Development, Development Economics, Political Economy, Comparative Labour Studies and Asian Studies."--Jacket