Excursus in Economics: Locating a Marxian to Understand the Keynesian Macroeconomics

Journal of Literature and Aesthetics Vol 15, Number 1&2 Jan-Dec, 2015 ISSN 2278-523X

12 Pages Posted: 6 Dec 2014 Last revised: 18 Jul 2016

See all articles by Siddik Rabiyath

Siddik Rabiyath

Department of Economics, University of Kerala; CESP, Jawaharlal Nehru University

Date Written: Jan-Dec 2015

Abstract

The paper is on one of the best Macroeconomics teachers and a finest Marxists of our time, who is none other than Professor Patnaik. The reading is neither decisive nor trivial to understand the contribution of a behemoth personality, nonetheless, presents a humble perception of some of his work spanning from early 1970s to 2010s. Of his over 40 years of writing, the reading of Patnaik broadly compartmentalized his work as two – a variety of Marxian critique of social issues, and a variety of Keynes-Kalecki approach on economic issues. With regard to the macroeconomic issues in India, he has two strategies to deal with the problem: 1) the dynamics of mixed economy in the “pre and post structural adjustment” economy; and 2) the impact of imperialism in the socio-economic and political life of India(ns) in particular and the world at large. This classification is neither a foolproof nor have a claim of “correctness” but for the convenience of presenting Patnaik in a simplest possible way to the readers. The schema of the paper is hence placed under the Marxian and Keynes-Kaleckian view of Patnaik and his original contributions on these traditions.

Keywords: Prabhat Patnaik, Neoliberalism, Capitalists, Accumulation, Macroeconomics, Keynes, Kalecki, Marx, Marxist, Money, Inflation, Core-Periphery

JEL Classification: A11, A13, B14, B22, B24, E11, E12, P12

Suggested Citation

Rabiyath, Siddik, Excursus in Economics: Locating a Marxian to Understand the Keynesian Macroeconomics (Jan-Dec 2015). Journal of Literature and Aesthetics Vol 15, Number 1&2 Jan-Dec, 2015 ISSN 2278-523X, Available at SSRN: https://ssrn.com/abstract=2534039

Siddik Rabiyath (Contact Author)

Department of Economics, University of Kerala ( email )

Kariavattom
Trivandrum, KS Kerala 695581
India

HOME PAGE: http://www.keralauniversity.ac.in/economics/faculty_details.html?id=227

CESP, Jawaharlal Nehru University ( email )

New Delhi
India

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