Southern Engines of Global Growth: Very Long Cycles or Short Spurts?

This article views the four economies of the South in a long run historical perspective of 1500-2000. It contrasts the history and the initial endowments of the two Northern hemisphere economies China and India which are land scarce and labour abundant with the two Southern hemisphere economies Brazil and South Africa which are land abundant and labour scarce. It argues for different strategies for future growth and discusses impediments which may come in the paths of these four economies in the near future.China, India, Brazil, South Africa, development, history

Lord Meghnad Desai: arguing about the world

In an exclusive interview, Lord Desai discusses India’s agrarian economy, corruption in New Delhi and his experiences at LSE

Rosa Luxemburg’s critique of Marx’s schemes of reproduction: a re-evaluation and a possible generalisation

Rosa Luxemburg's critique of Marx's Schemes of Reproduction is the only genuinely immanent critique of Marxian dynamics. But it needs to be brought up to date. To this end, in this paper it is placed in the context of more modern discussions of dual instability, in order to gain a better understanding of the role of price - as against quantity - adjustment in tackling instability. This allows us to discuss the path of prices as well as of quantities which have been the sole subject of controversy hitherto. Our approach also allows us to tackle the money circuit of capital parallel to the value circuit as outlined in the first part of Capital Vol 2.Rosa Luxemburg; accumulation; dynamic instability; linear models.

2017 Legislative Assembly election results: experts react

Yesterday the results were announced for five legislative elections held in Punjab, Uttar Pradesh, Uttarakhand, Manipur and Goa. Mukulika Banerjee, Surajit Bhalla, Meghnad Desai and Maitreesh Ghatak, who were at LSE for the fourth LSE SU India Forum, gathered to discuss key trends and features emerging from the results

Rosa Luxemburg’s critique of Marx’s schemes of reproduction: a re-evaluation and a possible generalisation

Rosa Luxemburg's critique of Marx's Schemes of Reproduction is the only genuinely immanent critique of Marxian dynamics. But it needs to be brought up to date. To this end, in this paper it is placed in the context of more modern discussions of dual instability, in order to gain a better understanding of the role of price - as against quantity - adjustment in tackling instability. This allows us to discuss the path of prices as well as of quantities which have been the sole subject of controversy hitherto. Our approach also allows us to tackle the money circuit of capital parallel to the value circuit as outlined in the first part of Capital Vol 2

Rosa Luxemburg’s critique of Marx’s schemes of reproduction: a re-evaluation and a possible generalisation

Rosa Luxemburg's critique of Marx's Schemes of Reproduction is the only genuinely immanent critique of Marxian dynamics. But it needs to be brought up to date. To this end, in this paper it is placed in the context of more modern discussions of dual instability, in order to gain a better understanding of the role of price - as against quantity - adjustment in tackling instability. This allows us to discuss the path of prices as well as of quantities which have been the sole subject of controversy hitherto. Our approach also allows us to tackle the money circuit of capital parallel to the value circuit as outlined in the first part of Capital Vol 2

Meghnad Desai (1940–)

Meghnad Desai has had a distinguished career as an economist, a political scientist and a politician: he is a Renaissance man. He has published numerous books and academic papers on a variety of topics, including Marxian economics, agricultural economics, economic history, economic theory, development economics, macroeconomics, etc. Besides his academic interests, he has been involved in movies and theatre. Meghnad has always been concerned with social issues. He was born in India and did his undergraduate education in Bombay, his doctorate at the University of Pennsylvania, and began his academic career in the Agricultural Department at the University of California, Berkeley, before moving to the London School of Economics (LSE). After retiring from LSE as Professor Emeritus, in 2015 he collaborated with some of his former students to set up an academic institution in Mumbai, India, the Meghnad Desai Academy of Economics (MDAE)