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Critique of Mainstream Economics Heterodox Economics Publications Updates

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.

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Blog Decolonizing Economics Media Updates

Decolonize your pandemic reading list (openDemocracy)

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A diverse reading list on pandemics compiled with Devika Dutt, Surbhi Kesar and Farwa Sial.

Categories
Decolonizing Economics Economic Development Heterodox Economics Presentations Updates

Summer Academy for Pluralist Economics 2020

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Along with D-Econ, I’ll be hosing a workshop at Exploring Economics’ Summer Academy August 10-16th 2020 on Critical Development Economics/Decolonizing Economics. Register for the workshop here.

Categories
Economic Development Media Updates

If we want to tackle global inequality, we need better economic theories (openDemocracy)

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I wrote a post for openDemocracy laying out how a dependency theory research programme can help us understand the global impacts of COVID-19. Check it out.

Categories
Economic Development Updates

New Article: Beyond the Stereotype: Restating the Relevance of the Dependency Research Programme

I recently published “Beyond the Stereotype: Restating the Relevance of the Dependency Research Programme” in Development and Change. Here is the abstract:

This article evaluates the relevance of dependency theory for understanding contemporary development challenges, especially in the light of changes in the global economy over the past 50 years. In order to do so, the article rectifies previous misunderstandings of the scholarship and offers a new definition of dependency theory as a research programme, rather than a singular theory. Four core tenets of this research programme are identified: a global historical approach; theorizing of the polarizing tendencies of global capitalism; a focus on structures of production; and a focus on the specific constraints faced by peripheral economies. While each of these elements can be found in many contemporary theories, what makes dependency theory unique — and a particularly strong research programme — is the combination of these elements. The article demonstrates how this approach provides a deep and broad understanding that is necessary to appreciate the persistence of uneven development with reference to two case studies, namely successful industrialization in South Korea, and how the fragmentation of global value chains has impacted industrialization in Indonesia. Finally, the article argues that approaching these kinds of cases through a dependency research programme can contribute to a fruitful renewal of development studies.

You can read my twitter thread about the paper here.
I also wrote about the findings in the article in openDemocracy and Progress for Political Economy.
Categories
Development Finance Economic Development In the media Interviews Podcasts Updates

Podcast on Trade and RCTs (Danish)

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In April, I was interviewed for two episodes of the brilliant Danish Economics podcast Boblen. One episode was on microfinance and the other on trade.

Categories
Blog Economic Development Heterodox Economics In the media Updates

Samir Amin: A Pioneering Marxist and Third World Activist (new blog post)

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I recently had the pleasure of contributing a blog post to the excellent blog Progress in Political Economy (PPE), which is based at the University of Sydney’s Political Economy department. I wrote about Samir Amin’s legacy, based on my recent Legacy piece in Development and Change. Check it out here.

Categories
Blog Decolonizing Economics Op-ed Updates

Diversify and decolonise your holiday reading list (openDemocracy)

Along with Devika Dutt and Surbhi Kesar, I put together an alternative winter reading list on behalf of D-Econ. It was published in openDemocracy’s ‘Decolonising the economy’ series. Check it out.

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Categories
Critique of Mainstream Economics Economic Development Publications Updates

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.

Categories
Economic Development Heterodox Economics Publications Updates

Samir Amin: A Pioneering Marxist and Third World Activist (new article)

I had the honor of writing a legacy piece on Samir Amin for Development and Change this year. It will be a part of the 2020 Forum issue, but is already available for download.

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