Value, Distribution and Development: Perspectives of Classical Political Economy - Paperback

by Goddanti Omkarnath (Editor), Sudhanshu Bhushan (Editor)

The book explores the crisis of neo-classical economic theory in an attempt to explain developments in the post-war period. It present a critique to the structure in terms of scarcity approach and go deeper into the failure to the determination of a uniform rate of profit, and limited substitutions of labor and capital.

Author Biography

Goddanti Omkarnath is currently Honorary Professor, School of Economics, University of Hyderabad, where he was earlier Professor and Dean. His teaching and research interests have included classical political economy, capital theory, and theoretical approaches to the study of the Indian economy. He has been involved in initiatives on reforming economics education in India. Before joining the university in 2000, Omkarnath served on the faculty of the Centre for Development Studies, Thiruvananthapuram, Kerala.

Sudhanshu Bhushan is a former professor and head of the Department of Higher and Professional Education at the National Institute of Educational Planning and Administration (NIEPA), New Delhi. He specializes in internationalization, policy issues, and planning in higher education. His notable works include The Future of Higher Education in India (Ed. 2019), Governance of Higher Education in Bihar (2021), The Evolving Landscape of Higher Education in India: Post-pandemic Policies and Transformations (Ed. 2024) and Critical Explorations in Social Sciences: Essays presented to Utsa Patnaik and Prabhat Patnaik (Eds. Praveen Jha and Sudhanshu Bhushan) (2025). He received the Amartya Sen Award in 2012 for distinguished social science research. He is the editor of Indian Economic Journal.