Categories
Microfinance Publications

Financial Inclusion and Its Discontents

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Paulo dos Santos and I criticize the micro-finance hype in development and call for a broader development agenda in a Private Debt Project article.

 

Categories
Development Finance Publications

Article in ‘Development Finance Agenda’

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An article I previously published on the blog RightingFinance has been re-published in Volume 2, Issue 1 (2016) of the journal Development Finance Agenda (DEFA), which is published by the Chartered Institute of Development Finance (CIDEF). You can read more about this issue here.

Categories
Heterodox Economics In the media Norway-related Publications

The Norwegian Debate on Neoclassical Economics

In the wake of the release of a critical book on Neoclassical Economics in Norway, a heated debate on the state of the field of Economics has unfolded in Norwegian media. Norwegian Economics Professors argue that they are not Neoclassical (although they use Neoclassical methods such as general equilibrium analysis), that it’s impossible to do Economics outside of an equilibrium framework, and that alternative theories are so small that they are not worth teaching. My Norwegian colleague at The New School, Ebba Boye, and I entered the debate last week, by pointing out that Economics has not always been synonymous to Neoclassical Economics, that there are non-Neoclassical theories that have strong explanatory power, and that it is  possible – and desirable! – to learn a variety of Economic theories in one degree program. Here’s our Op-ed in the Norwegian newspaper Klassekampen: Økonomisk innsikt utenfor mainstream.

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Categories
Economic Development Publications SDGs

Global Development Goals: If at All, Why, When and How? (new paper)

New School Professor Sanjay Reddy and are publishing our paper on global goals today. We raise some basic conceptual questions regarding global development goals: Why have them at all? What function, if any, might they serve, and under what conditions could they do so successfully? Based on our answers to these questions, we identify serious inadequacies in the contemporary approach to development goals and relate these to weaknesses in how the goals were conceived and formulated. Despite these failings, higher-level goals may play a useful role if the practical approach to them is embedded in a holistic and integrated vision of a better world. Focusing on goals rather than targets opens needed space for flexibility, innovation, and fuller democratic accountability.

Download the working paper here (SSRN) and read my blog post on the New School Economic Review here.

Categories
Economic Development Op-ed Publications SDGs

Global Goals: For What? (Op-ed)

On August 28th 2015, Professor Sanjay Reddy and I published an op-ed on the Financial Times blog, BeyondBrics. In the op-ed we discuss the purpose of global development goals, as the Sustainable Development Goals (SDGs) are about to be adopted. Read a slightly extended version on Sanjay Reddy’s blog.

 

Categories
Book review Publications

Book Review: How Nations Succeed

Collin Constantine (SOAS) and I have recently published a book review of Acemoglu, Johnson and Robinson’s (2001) famous Why Nations Fail: The Origins of Power, Prosperity, and Poverty.’  Our paper finds significant flaws in the methodology employed by Acemoglu et al., for example with the proxies used for wealth in 1500, with the oversimplified historical framework it relies on, and with their idea of ‘institutions’. We argue that attributing successful development to private property rights obscures the complexity of development processes through history and that Acemoglu et al.’s understanding of ‘good institutions’ fails to capture the type of institutions that existed in the now advanced countries when they were developing.

Read the complete review in the 7th edition of The New School Economic Review (open access).