This book applies Banerjee's market model to India during the 1956–1975 period, examining the industrialization process of the Second and Third plans, the crisis of the mid-1960s, and the Green Revolution, to develop a theory that promotes the formation of dominant economic classes.  Meer

Why does capitalist development give rise to political alliances between the state and certain economically dominant classes? Addressing this question, Professor Banerjee uses an evolutionary approach to social structure to develop a theory of the interaction within and among business and manufacturing firms--a theory that highlights those aspects of market processes that promote the formation of dominant economic classes.  Meer