This textbook covers the syllabus of the papers on economy, state, and society of undergraduate and graduate courses in Economics in India. The content also covers the topics in history of economic thought taught in some colleges and universities.

The textbook explains the emergence, evolution, and working of the capitalist system with the help of some of the major principles and theories of economics. It interrelates economics and economic life with other aspects of our lives—social, cultural, political, religious, and intellectual.

This book departs from the traditional analysis of the capitalist system in integrating the real sector of the economy with its monetary sector and carries forward Keynes' analysis. It underlines that the capitalist system is constantly changing, propelled by the tendency towards increasing concentration of ownership and control of the means of production in fewer and fewer hands.

The book comes with an Instructor's Manual to aid the teaching of the subject.

Monopoly Capitalism: The Post-Fordist Phase

Monopoly capitalism: The post-fordist phase

Learning Objectives

  • To explain money, financing of the economy and financialisation of the economy
  • To point out the factors in the financialisation of the economy
  • To elucidate the post-Fordist phase: economy, state and society under economic globalisation
  • To understand the problems with post-Fordism in the period prior to financial globalisation
  • To study the economy, state and society in the current financial globalisation phase
  • Key concepts to look out for are globalisation—economic, financial; second industrial divide; flexible specialisation—flexi production, flexi work; trade/labour unions; socialisation of production—intra-firm and inter-firm assembly-line production; spin-off firms; forms of business organisation; concentration/control of means of production; post-industrial economy; service sector—finance, advertising, marketing; Fordisation of services; loop between mass production and mass consumption.


What exactly the post-Fordist phase is and ...

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