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Economics as Concentrated Politics

  • Ashwani Saith
Chapter
Part of the Palgrave Studies in the History of Economic Thought book series (PHET)

Abstract

Ajit’s economics was theoretically and methodologically rigorous, evidence-based and policy-relevant. Initially, his research developed an empirical refutation of key tenets of the neoclassical theory of the firm, mergers, takeovers and the stock market. Subsequently, his paradigmatic research on deindustrialisation in the UK simultaneously provided a framework emphasising the vital role of manufacturing in development. His consistent advocacy of state-enabled Kaldorian industrialisation, exemplified by South Korea, brought him into regular confrontation with the uniform structural adjustment and free-market mainstream package applied on developing economies by the Bretton Woods institutions, prominently in Tanzania and Mexico; in opposition, he argued for a strategically selective rather than a close and all-embracing integration with globalisation processes. Later, he began to investigate the limits of export-led industrialisation and recalibrate the Kaldorian template with possibly a lead role for the services sector. He would reject claims that his industrialisation strategy risked mutation into an ideology of industrialism.

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© The Author(s) 2019

Authors and Affiliations

  • Ashwani Saith
    • 1
  1. 1.International Institute of Social StudiesErasmus University RotterdamThe HagueThe Netherlands

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