Macroeconomics in India

Macroeconomics edited by Prabhat Patnaik; Oxford University Press, Delhi,
TO make research on Indian themes accessible to the student is a laudable objective. It carries with it a heavy responsibility of being balanced, comprehensive and readable. In that respect there are both negative and positive aspects to the timing of the book under review. The reforms have focused attention on macroeconomics. A clear understanding of the way in which they interact with the structure of the economy is essential for their success. The book offers a platform to develop this understanding. Unfortunately, given the sharp differences between schools of macroeconomics, the conjuncture makes it all the more difficult to desist from polemics. Most of the authors represented in the volume do manage to resist the temptation. Occasional lapses arc perhaps inevitable.