Economist Amit Bhaduri, professor emeritus of Jawaharlal Nehru University in New Delhi, India, will deliver the fourth annual Samuel Bowles Lecture titled “Financial Growth and Collapse: A Suggestive Model.” Presented by the department of economics, the free, public lecture is set for Thursday, March 21 at 4 p.m. in 303 Gordon Hall, with a reception to follow.
A consistent critic of mainstream neoclassical economic theory, Bhaduri will use a stylized macroeconomic model to examine the interaction between the “real” and the financial sector, making a distinction between capital as both a means of production and as financial wealth for distribution among owners of wealth in the stock market. He will also discuss how adjustments in stock-flow dynamics generate sudden catastrophic change in the stock market.
An activist who is a staunch critic of “corporate-led growth strategies” and “developmental terrorism” that have emerged in India and other developing countries in the wake of globalization, Bhaduri has also been articulating alternative development strategies that seek to mobilize the strengths and energies of the poor masses that are currently disenfranchised and excluded from the growth process. A distinguished professor of in economics at Pavia University, Italy, and visting professor for the Council for Social Development in New Delhi, he is the author of six books and over 60 papers.