Economy and Society : Evolution of Capitalism

This textbook covers the syllabus of the papers on economy, state and society of undergraduate and postgraduate courses in Economics in India. The content also covers the topics covered under the paper on history of economic thought taught in some colleges/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 inter-relates 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.