The Hindu Equilibrium: Volume II: Aspects of Indian Labour

Deepak Lal's book critically examines the evidence from a series of debates related to the functioning of Indian labour markets. It provides arguments against the view that there is surplus labour in India. It puts together the available historical data on wage trends and wage structures in India and in this context examines the determinants of unemployment and rural and urban wages. Volume 1, "Cultural Stability and Economic Stagnation: India c1500 BC - AD 1980" argued that ideas about Indian labour markets have been in part responsible for the Indian failure to escape from its ancient social and economic "Hindu equilibrium".