The making of a dissenting economist: Amit Bhaduri (1940-)


  • Amit Bhaduri Jawaharlal Nehru University (Delhi)



Recollections, Bhaduri


The paper surveys the author’s research from a personal and autobiographic perspective. The author highlights the political interest and motivations behind the study of economics, as well as discusses some political consequence of economic research. The article focuses on the authors’ contributions on growth, development, and the Indian economy and society.

JEL codes: B31, E12, O11


Bhaduri A. (1966), “The Concept of the Marginal Productivity of Capital and the Wicksell Effect”, Oxford Economic Papers, 18 (3), pp. 284-288.

Bhaduri A. (1968a), “An Aspect of Project Selection: Durability versus Construction Period”, Economic Journal, 78 (310), pp. 344-348.

Bhaduri A. (1968b), “Foreign Trade as a Time-Saving Device in Project Planning”, Economics of Planning, 8 (3), pp. 252-262.

Bhaduri A. (1969), “On the Significance of the Recent Controversy on Capital Theory: A Marxian View”, Economic Journal, 79 (315), pp. 532-539.

Bhaduri A. (1970), “A Physical Analogue of the Re-Switching Problem”, Oxford Economic Papers, 22 (2), pp. 148-155.

Bhaduri A. (1971), “Unwanted Amortization Funds: A Mathematical Treatment”, Economic Journal, 82 (326), pp. 674-677.

Bhaduri A. (1973), “A Study in Agricultural Backwardness under Semi-Feudalism”, Economic Journal, 83 (329), pp. 120-137.

Bhaduri A. (1975), “On the Analogy between the Quantity- and the Price-Traverse”, Oxford Economic Papers, 27 (3), pp. 455-461.

Bhaduri A. (1976), “The Evolution of Land Relations in British India”, Indian Economic and Social History Review, 13 (1), pp. 45-53.

Bhaduri A. (1977), “On the Formation of Usurious Interest Rates in Backward Agriculture”, Cambridge Journal of Economics, 1 (4), pp. 341-352.

Bhaduri A. (1981), “Class Relations and the Pattern of Accumulation in an Agrarian Economy”, Cambridge Journal of Economics, 5 (1), pp. 33-46.

Bhaduri A. (1983a), The Economic Structure of Backward Agriculture, London and New York: Academic Press.

Bhaduri A. (1983b), “Multimarket Classification of Unemployment: A Sceptical Note”, Cambridge Journal of Economics, 7 (3/4), pp. 235-241.

Bhaduri A. (1986), Macroeconomics: The Dynamics of Commodity Production, London: Macmillan.

Bhaduri A. (1987), “Dependent and Self-Reliant Growth with Foreign Borrowing”, Cambridge Journal of Economics, 20 (11), pp. 269-273.

Bhaduri A. (2000), “Legal or Illegal Production and Trade under Monopoly with Transaction Cost”, Metroeconomica, 51 (3), pp. 304-307.

Endogenous Economic Growth: A New Approach”, Cambridge Journal of Economics, 30 (1), pp. 69-83.

Bhaduri A. (2008), “On the Dynamics of Profit- and Wage-Led Growth”, Cambridge Journal of Economics, 32 (1), pp. 147-160.

Bhaduri A. (2009), Development with Dignity, New Delhi: National Book Trust.

Bhaduri A. (2011), “A Contribution to the Theory of Financial Fragility and Crisis”, Cambridge Journal of Economics, 2011, 35(6), pp. 995-1014.

Bhaduri A. (2018), “A Study in Development by Dispossession”, Cambridge Journal of Economics, 42 (1), pp. 19-31.

Bhaduri A. and Harris D.J. (1987), “The Complex Dynamics of the Simple Ricardian System”, Quarterly Journal of Economics, 102 (4), pp. 893-902.

Bhaduri A. and Marglin S. (1990), “Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies”, Cambridge Journal of Economics, 14 (4), pp. 375-393.

Bhaduri, a and Nayyar,D. (1996)The Intelligent Person’s Guide to Liberalization, Delhi: Penguin.

Bhaduri A. and Raghavendra S. (2017), “Wage- and Profit-Led Regimes under Modern Finance: An Exploration”, Review of Keynesian Economics, 5 (3), pp. 426-438.

Bhaduri A. and Robinson J. (1980), “Accumulation and Exploitation: An Analysis in the Tradition of Marx, Kalecki and Sraffa”, Cambridge Journal of Economics, 4 (2), pp. 103-115.

Bhaduri A. and Skarstein R. (1996), “Short Period Macroeconomic Aspects of Foreign Aid”, Cambridge Journal of Economics, 20 (2), pp. 195-206.

Bhaduri A. and Skarstein R. (2003), “Effective Demand and the Terms of Trade in a Dual Economy: A Kaldorian Perspective”, Cambridge Journal of Economics, 27 (4), 583-595.

Bhaduri A. and Steindl J. (1983), “The Rise of Monetarism as a Social Doctrine, Thames Papers on Political Economy, Autumn, no. TP/PPE/83/3, Greenwich: University of Greenwich.

Bhaduri A., Laski K. and Riese M. (1999), “Effective Demand Versus Profit Maximization in Aggregate Demand/Supply Analysis: A Dynamic Perspective”, Banca Nazionale del Lavoro Quarterly Review, 52 (210), pp. 281-293 (an earlier version published in Polish in Economista, 1996).

Bhaduri A., Laski K. and Riese M. (2006), “A Model of Interaction between the Real and the Virtual Economy”, Metroeconomica, 57 (3), pp. 412-427.

Bhaduri A., Raghavendra S. and Guttal V. (2015), “On the Systemic Fragility of Finance-Led Growth”, Metroeconomica, 66 (1), pp. 158-186.

Hicks J.R. (1973), Capital and Time, Oxford: Clarendon Press.

Robinson J. (1956), The Accumulation of Capital, London: Macmillan.

Robinson J. (1962), Essays in the Theory of Economic Growth, London: Macmillan.

Sraffa P. (1960), Production of Commodities by Means of Commodities. Prelude to a Critique of Economic Theory, Cambridge: Cambridge University Press.




How to Cite

Bhaduri, A. (2019). The making of a dissenting economist: Amit Bhaduri (1940-). PSL Quarterly Review, 72(290), 187–194.



Recollections of Eminent Economists