Political Economy

This book has been written in accordance with the syllabus of BA(HONS) Economics for IVth and Vth semester as per current semester system as well as VIIth semester as per FYUP of Delhi University. This book is compiled from the recommended readings prescribed by the University and is dedicated to the students in a simple language so that they can understand the economy, state, and society subject easily and comprehensively. The analysis has also been supplemented by other readings wherever found necessary. Some of the diagrams have been taken from Google. This book gives a brief about why do we need to study about the systems. The book has been structured to provide a comprehensive overview of the evolutions of stages of societies from old to contemporary with different set of systems. It has highlighted the Marxian perspective and tried to give understanding of the economic systems which are the pillars of any economy. If basic structure is strong enough then the economy will function smoothly.

Unit –I: Analyzing Social Change in Historical Perspective

1. Economy, State and Society: An Introduction

2. Material Conception of History

3. Causes and Consequences of Transformation of Systems

Unit – II: Capitalism as an Evolving Economic System

4. Capitalist Economy

5. Capitalism Crisis

6. Imperialism, Capitalism Crisis and Emergence of Socialism

7. Modern Corporation

Unit – III: The State in Capitalism

8. Role of State

9. Sovereignty, Contestations and Interdependence of States

Unit – IV: Changing Dynamics of Capitalist Production, Organisational Form and Labour Process

10. Neo-liberalism, Dynamics of Production, Role of Finance

Unit – V: Era of Globalisation: Role of Finance, The Social Dimension, Gender and Environmental Issues

11. Era of Globalisation Development, Social Exclusion and Gender Issues

12. Conclusion Important Questions