This book provides a rich mix of theory and economic policy. The essays are grouped in four sections. The first part is on economic theory with respect to the developing nations. The second is on world development as a whole and refers to the global transformation brought about by markets .The third part is on industrialization .The fourth and final part is on liberalization with a focus on India –her experiences with stabilization , adjustment reform in a wider political and historical context.

The book is an unusual mix of theory, policy and reality put together. The essays are grouped thematically into four sections beginning with economic theory. This section considers issues that have been largely neglected in mainstream economics like the free trade doctrine, trade in services and international labor movements. The second part on world trade examines issues like transnational corporations, regional trade blocs, multi lateral trading system amongst others. The third part tells us about India’s engagement with the world trade. The final part explores different aspects of globalization in the wider context of the world economy.