An Introduction to Economics

1. Front Matter

   Pages i-xvi

   PDF

2. Introduction

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 1-12

3. Neoclassical Economics and Capitalism

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 13-55

4. Marxian Economics

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 57-93

5. John Maynard Keynes and Stabilization Measures

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 95-104

6. Neoclassical Economics, Marx and Keynes, and the Global Financial Crisis

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 105-136

7. Capitalism Versus Socialism: A Few Country Studies

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 137-163

8. Survival of the Common Man Under Capitalism: A Plausible Strategy

   • Chandana Ghosh, Ambar Nath Ghosh

   Pages 165-188

9. Back Matter

   Pages 189-191

   PDF

The book compares neoclassical and Marxian economics and points out that both the schools of thought seek to analyze how a capitalist society functions. The authors show that the neoclassical economics vindicates capitalism and prescribes policies that further the interest of the rich (giant capitalists), who own most of the non-human productive resources of the economy, whereas Marxian analysis yields the result that a capitalist society is exploitative and crisis-prone. Marxian economics also suggests that the class struggle inherent in a capitalist society will eventually transform it into an equal, just and humane socialist society

The book also presents Keynesian theory, which suggests measures that can counter at least some of the crises that Marx said a capitalist country is subject to. It discusses the current state of the capitalist world, the recent crises it was subject to and assesses the three theories in the light of these experiences. It recounts the current states of two important socialist states, namely, China and Cuba. It discusses the economic performance of Soviet Union since its birth and explains the reasons for its disintegration. It compares economic performances of the capitalist and the socialist states and assesses in the light of the experiences of these two blocs of countries which school of thought is more acceptable and closer to the truth.

• Neoclassical Economics
• Marxian Economics
• Keynesian Economics
• Capitalist Economies
• Socialist Economies
• Economics

• Economic Research Unit, Indian Statistical Institute, Kolkata, India

  Chandana Ghosh

• Economics Department, Jadavpur University, Kolkata, India

  Ambar Nath Ghosh

Chandana Ghosh, Assistant Professor, Economic Research Unit, Indian statistical Institute, Kolkata,
India. Dr. Ghosh has written three books (co-authored with Ambar Nath Ghosh), titled, ‘Economics of the Public Sector’ (2008), ‘Public Finance’ (2nd Edition), ‘Macroeconomics’ (2011) and ‘Indian Economy: A Macro-Theoretic Analysis’ (2016).

Ambar Nath Ghosh, Professor, Economics Department, Jadavpur University, Kolkata, India. Professor Ghosh has written three books (co-authored with Chandana Ghosh), titled, ‘Economics of the Public Sector’ (2008), ‘Public Finance’ (2nd Edition), ‘Macroeconomics’ (2011) and ‘Indian Economy: A Macro-Theoretic Analysis’ (2016). He has also co-edited, along with Asim Karmakar, a book titled ‘Analytical Issues in Trade, Development and Finance’ (2014) published by Springer.

Policies and ethics