Titlebook: Reflections on the Future of Capitalism; From Karl Marx to Am Ramesh Chandra Book 2024 The Editor(s) (if applicable) and The Author(s), und

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,Karl Marx (1818–1883),on, theory of distribution, theory of alienation, theory of crisis, theory of historical materialism and theory of class struggle. Marx, basing himself on Ricardo’s labour theory of value, explained how exploitation in the system occurs. For Marx, labour was a commodity that produced more value than

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,Thorstein Veblen (1857–1929), Veblen was a strong critic of neoclassical economics, its equilibrium methodology and its teleological thinking. He also critiqued capitalism because it produced monopoly, unemployment, business cycles, conspicuous consumption and conspicuous waste. He criticized the business (or leisure) classes f

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,Gunnar Myrdal (1898–1987),relations and economic development. He was of the view that the key to solving the black problem in America was to improve their education, housing and income security and thereby convert the vicious circle into a virtuous circle. Myrdal was also the father of welfare state in Sweden. Myrdal believe

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,Allyn Young (1876–1929),tion and monopoly, his contribution in the field of money, banking and business cycles, and his ideas on the future of capitalism and how it could be reformed through institutional intervention to better reflect the public interest. Young stated that the dominant tendency in the industrial system wa

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,John Maynard Keynes (1883–1946),eas on war finance and international economic architecture, and the idea of reforming capitalism by ending laissez faire. Keynes emphasized the role of aggregate demand in the short-term determination of output and employment. Particularly, investment tended to be volatile in view of changing busine

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,Amartya Sen (1933–),, gender disparities and women‘s empowerment, the role of markets and the state, and the role of democracy. Sen is a great believer in democracy, even for developing countries, and hates authoritarianism of both the Left and Right. While China‘s dictatorship was responsible for millions of famine de

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