Economic Realities: New Emerging Hypotheses

The present paper entitled Economic Realities: New Emerging Hypotheses by Professor Vinod Anand brings into focus the shifts in the field of economics. There is no doubt that social sciences including economies originate their mainstream research from their conventional wisdom but suggest new hypothesis in the light of changing needs and aspirations of the society. After brief analysis of radical changes in Keynesian economic theory the paper focusses on the shift in conventional wisdom brought about by waiving the assumption of 'exogeneity' in the sphere of macroeconomics, and replacing it with the assumption of 'endogeneity'. The paper looks at the role of the state as an endogeneity as a variable of the New Political economy and brings into prominent relief emerging economic realities. The result is a vicious circle making economic scenario a deplorable affair.

ISBN: 81-7986-013-2
Rs. 60

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