ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Globalisation of Steel Industry: Reply

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The title of the book, The Global Re-   structuring of the Steel Industry: Innovations, Institutions and Industrial Change, reveals the problem Anthony D'Costa has in his mind. The author very clearly and consistently tried to establish the importance, if not primacy, of the role played by 'institutions' in 'capitalist industrialisation' through innovations in technology and as a case in point he has taken the steel industry for a detailed examination. If one leaves aside the traditional Marxist understanding of capitalism and capitalist development, there is very little difficulty in accepting the autonomous (but limited) role played by capitalist institutions to some degree in bringing about industrial change. But these institutional responses are complex because the institutions do not function completely independently and therefore understanding the same requires a strong analytical framework for their correct and adequate evaluation. To develop an analytical framework, one needs to define each and every major category that one has used in the analysis. The need for a rigorous analytical framework was not questioned in my review – rather the inadequacy of the same in terms of analytical clarity (and also the need for the same in the context of the specific problem in hand). Let me discuss this point a little.

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