Critique of Mainstream Economics Dependency theory Economic Development Interviews Podcasts SDGs

In Pursuit of Development (Podcast)

It was great fun to discuss the big questions in development economics with Prof. Dan Banik on his podcast In Pursuit of Development. Listen to it and read more about it here.

Blog Covid-19 Critique of Mainstream Economics Heterodox Economics

Reclaiming Economics After Covid-19 (new blog post)

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“The pandemic has revealed the poverty of our economic theory. Rupture with the old paradigm is the only route to recovery.”
Read my piece with Carolina Alves on Progressive International’s blog.
Blog Critique of Mainstream Economics Decolonizing Economics Discrimination in Economics Heterodox Economics INET Teaching

Why Do Economists Have Trouble Understanding Racialized Inequalities? (Blog post)

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I wrote a blog post with Surbhi Kesar for the Institute for New Economic Thinking on the Economics discipline’s lack of capacity to understand racial inequalities, based on survey data.

Covid-19 Critique of Mainstream Economics Heterodox Economics Publications

Changing the Narrative: Economics After Covid-19 (new article)

I wrote an article on how COVID-19 exposes weaknesses in the dominant Economics narrative, and how heterodox economics offer important alternatives, with Carolina Alves for the Review of Agrarian Studies. Here’s the abstract:

In this ar­ti­cle, we argue that so­ci­eties’ un­pre­pared­ness and in­ad­e­quate re­sponses to the Covid-19 pan­demic ex­pose weak­nesses in the foun­da­tions of the dom­i­nant eco­nomic par­a­digm. We doc­u­ment how eco­nom­ics came to dis­em­bed it­self from broader so­ci­etal analy­sis and how this has in­flu­enced pub­lic pol­icy in prob­lem­atic ways, lead­ing to priv­i­leg­ing of ef­fi­ciency over re­silience. We then go a step fur­ther to con­sider the role of eco­nomic ev­i­dence in pub­lic pol­icy more gen­er­ally. Fur­ther­more, we demon­strate how het­ero­dox eco­nom­ics can en­rich our un­der­stand­ings of our economies’ weak­nesses and of how to build a more re­silient and just econ­omy. We con­clude that we need an ex­pla­na­tion of the cri­sis that is ca­pa­ble of see­ing the econ­omy as more than just mar­kets and as em­bed­ded in so­ci­ety; one that is ca­pa­ble of link­ing the causes and con­se­quences of the pan­demic to our sys­tems of pro­duc­tion and dis­tri­b­u­tion.

Read the full paper.

Book review Critique of Mainstream Economics Marx

Review of Piketty’s “Capital and Ideology”

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I recently wrote a review of Thomas Piketty’s Capital and Ideology for Nature. Read the full review.

Critique of Mainstream Economics Economic Development Experimental Economics Publications

Impoverished Economics? A Critical Assessment of the New Gold Standard (new essay)

I wrote an essay for the World Development Symposium on Development and Poverty Alleviation. Here is the abstract:

This article situates the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in the history of thought on development, tracing how the focus, theory and methods have shifted in the field. The article evaluates theoretical and methodological critiques of the way randomized control trials (RCTs) are employed by the laureates, as well as attempts to overcome these challenges. In terms of theory, the article demonstrates what gets lost when experiments are guided by methodological individualism and assumptions of individual utility-maximizing behavior. In terms of methodology, the article unpacks the limits of RCTs related to their causal model, and their lack of attention to human agency and wider socio-economic context. Finally, the article discusses the experimental approach’s relevance for research and policy-making and cautions against any approach becoming a “gold standard,” due to the importance of pluralism for maintaining an open debate about development.

Read the full article here and do check out the other essays as well.

Critique of Mainstream Economics Experimental Economics In the media Interviews Podcasts

Interview with A Correction (Podcast)

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I speak with Lev Moscow about the Nobel Prize in Economics (and what it says about the state of the economics profession). A Correction is a podcast that is directed towards high school teachers and students, based in New York City.  Listen to the podcast here.

Critique of Mainstream Economics Economic Development Experimental Economics In the media Podcasts

Interview on LBO News (Podcast)

This week I had the pleasure of appearing on Doug Henwood’s political economy radio show, the LBO news. He picked my brain about the recent developments in the field of development economics and the work of Banerjee, Duflo and Kremer, in particular. This is a one-hour episode, with René Rojas being interviewed by the political demonstrations in Chile in the first half, and me being interviewed in the second half. You can download the podcast here or listen to it by pressing the play button below.

Critique of Mainstream Economics Economic Development Experimental Economics Op-ed

Impoverished economics? Unpacking the economics Nobel Prize (openDemocracy)

Esther Duflo, 2009. Photo: PopTech

I recently wrote this opinion piece for openDemocracy on the work of this year’s winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The so-called Nobel went to Abhijit Banerjee, Esther Duflo and Michael Kremer, for promoting an experimental approach to alleviating global poverty.

The piece was also re-published by the URPE blog, The Mint, the Kashmir Times, Momentum Institut (in German), and Disparada (in Portuguese), and was covered by several newspapers, including by the Argentinian business newspaper La Nacion (Con el Nobel a los “randomistas”,la grieta llegó al ámbito académico) and the French daily newspaper Libération (L’extinction expérimentale et aléatoire du paupérisme).