Gautam Mathur’s Sraffa – Neumann System:A Framework for Development

Abstract

Throughout the work of Gautam Mathur there is a unique blend of theoretical insights for development strategies and the pursuit of ideals of economic justice, freedom and egalitarian society. He uses a Sraffa-Neumann system structure to disaggregate the economy into sub-systems as a tool of analysis for choice of techniques, allocation of labour and resources and time transition path towards steady growth based on a sound foundation of capital theory. The paper appraises his unique approach to study processes of structural transformation, and the relevance of such a strategy in an era of jobless growth, high inequality, low productivity and inefficient production structures across sectors. Mathur envisioned that an underdeveloped economy can be structurally transformed into a Robinsonian “golden age” through active state policy interventions.