A lucid analysis of the 'revolutionary' changes in the Indian economy Faced with a major economic crisis in 1990-91, the government responded by initiating far-reaching policy reforms aimed at opening up the country's economy. Since then there has been little discussion on key issues and much political posturing. In this important book two of India's leading economists rescue the current economic debate from jargon and dogma and present it in language accessible to ordinary Indians who, finally, must bear the brunt of the reforms. Cutting through the euphoria and hype that prevent any serious appraisal of liberalization, they highlight the advantages of a free market as also the grave dangers of unquestioning reliance on market forces in a developing country which is home to the largest number of the world's poor. They argue for a flexible system that will adapt to changes in society and polity, a system where both the market and the State must play a role. Eschewing the extreme positions of both the left and the right, this book seeks to encourage a serious reappraisal of the country's bold experiment with privatization, for, as the authors put it, 'doubt is as important as knowledge in the design of economic policy'.
Economists talk of prices rising or falling in response to excess of demand or supply in the market, but are at a loss to explain who sets the price in a market of many players where no one has the power to dictate price. They then have to invent the ‘invisible hand’ of a mythical god called ‘price mechanism’ to create the image of the market operating as a self-regulating system. While unregulated free trade amounts to groping in the dark, the situation is far worse when the prices and other rules of the market are set by the state on behalf of large corporations—as has happened in globalizing India in the name of economic development. Large corporations, aided and abetted by the land acquisition policies of the central and state governments, are indulging in massive land-grabbing. We witness the perversity of development in the destruction of livelihoods and displacement of the poor in the name of industrialization, in the construction of big dams for power generation and irrigation, in the corporatization of agriculture despite farmers’ suicides, and in the modernization and beautification of our cities by the demolition of slums. One of India’s foremost theoretical economists, Amit Bhaduri contends that we have abjectly surrendered to the conventional wisdom of our time—that there is no alternative to corporations and the type of globalization that they lead. The result, he warns, will not be a freer market and more freedom, but a disastrous and deepening chasm between the India of privilege and the India of crushing poverty. The Face You Were Afraid to See is a collection of compellingly argued essays that draws attention to the other India that we turn away from. Fiercely critical of financial liberalization, corporate-led globalization and neoliberalism that celebrates unregulated free trade, the essays together make for a forceful critique of India’s economic policies.
This book is intended to serve as core text or handy reference on two key areas of metallic materials: (i) mechanical behavior and properties evaluated by mechanical testing; and (ii) different types of metal working or forming operations to produce useful shapes. The book consists of 16 chapters which are divided into two parts. The first part contains nine chapters which describe tension (including elastic stress – strain relation, relevant theory of plasticity, and strengthening methods), compression, hardness, bending, torsion – pure shear, impact loading, creep and stress rupture, fatigue, and fracture. The second part is composed of seven chapters and covers fundamentals of mechanical working, forging, rolling, extrusion, drawing of flat strip, round bar, and tube, deep drawing, and high-energy rate forming. The book comprises an exhaustive description of mechanical properties evaluated by testing of metals and metal working in sufficient depth and with reasonably wide coverage. The book is written in an easy-to-understand manner and includes many solved problems. More than 150 numerical problems and many multiple choice questions as exercise along with their answers have also been provided. The mathematical analyses are well elaborated without skipping any intermediate steps. Slab method of analysis or free-body equilibrium approach is used for the analytical treatment of mechanical working processes. For hot working processes, different frictional conditions (sliding, sticking and mixed sticking–sliding) have been considered to estimate the deformation loads. In addition to the slab method of analysis, this book also contains slip-line field theory, its application to the static system, and the steady state motion, Further, this book includes upper-bound theorem, and upper-bound solutions for indentation, compression, extrusion and strip drawing. The book can be used to teach graduate and undergraduate courses offered to students of mechanical, aerospace, production, manufacturing and metallurgical engineering disciplines. The book can also be used for metallurgists and practicing engineers in industry and development courses in the metallurgy and metallic manufacturing industries.
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