Publisher's Synopsis
This book examines why, although the former colonies and semi-colonies have emerged as a major force in world politics over the last four decades, their economies have in most cases remained retarded.;The first part of the volume focuses on exchanges between poor and rich nations, and asks who gained most from them. The second part is concerned with the domestic scenario in India, and tries to relate the overall stagnation in material production per capita to the balance of class forces that emerged after Independence as a result of industrialization strategies. In this context it examines long-term output trends, trade terms, real wages and unemployment rates, savings and investment, and private monopoly capital. It also examines the existing laws and regulations on private sector monopolies. The final essay is a critique of the recent shift towards liberalism in India's economic policies.
