"The volume is a most original and pioneering application of the synthesis of theories derived from the contributions of past and present economists to an empirical study of inflation in Sri Lanka. It is a compelling case study of how drawing on the elements of past and present writings may be made into illuminating theoretical narratives to apply to historical episodes in individual societies. The volume shows the value of how understanding past theories in their original contexts may be used with or without modification to make sense of happenings in our times." -- GC Harcourt, Emeritus Reader in The History of Economic Theory, Cambridge, 1998; Emeritus Fellow, Jesus College, 1998; Professor Emeritus, Adelaide, 1988; Visiting Professorial Fellow, UNSW Australia, 2010-2016; Honorary Professor, UNSW Australia, 2016-2022 The book provides a new conceptualisation of inflation in underdeveloped economies, through Sri Lanka's historical experience. It outlines a general theory of nationalisms in their diverse manifestations across the world, within a historical perspective of capitalist development and underdevelopment. The book, therefore, seeks to capture the production mode holistically, within both its infrastructural and superstructural levels probing their interactions. The theoretical structure through which inflation is analysed synthesises the theory of unproductive labour and Marxian theory of prices of production with labour surplus theory of late Dr. S. B. D. De Silva in the context of underdevelopment. In this light, Professor David Laibman's Allocation Problem is resolved within a Marxist framework to provide an operational significance to the theory and its application. In the same vein the book also provides a new theoretical interpretation of Sri Lanka's historical development from the British period onwards through application of theories of capitalist development and surplus labour. Dhanusha Gihan Pathirana has been an Economist for near.