Categories
Africa Dependency theory Development Finance Imperialism Publications

Beyond financialisation: the longue durée of finance and production in the Global South (new article)

I’m very happy to finally have this open access article “Beyond financialisation: the longue durée of finance and production in the Global South” out in the Cambridge Journal of Economics (coauthored with Kai Koddebrock and Ndongo Samba Sylla). I summarize the article in this twitter thread.

Here is the article abstract:

One of the central premises of the literature on financialisation is that we have been living in a new era of capitalism, characterised by a historical shift in the finance-production nexus. Finance has expanded to a disproportionate economic size and, more importantly, has divorced from productive economic pursuits. In this paper, we explore these claims of ‘expansion’ and ‘divorce’ based on a longue durée analysis of the link between finance and production in Senegal and Ghana. As such, we de-centre the dominant approach to financialisation. Seen from the South, we argue that although there has been expansion of financial motives and practices the ‘divorce’ between the financial and the productive economy cannot be considered a new empirical phenomenon having occurred during the last decades and even less an epochal shift of the capitalist system. The tendency for finance to neglect the needs of the domestic productive sector has been the structural operation of finance in many parts of the Global South over the last 150 years. Therefore, one cannot put forward a theory of the evolution of finance under capitalism without taking these crucial historical insights into account.

The article is a part of a two-part Special Issue on ‘Financialisation in Developing and Emerging Economies: Manifestations, Drivers and Implications’ in CJE, edited by Carolina Alves, Bruno Bonizzi and Annina Kaltenbrunner. Read their introduction to the first part here.

Categories
Dependency theory Development Finance Economic Development Heterodox Economics Imperialism Publications

International financial subordination: a critical research agenda (new article)

I have a new article in the Review of International Political Economy with the fabulous co-author team of Ilias Alami, Carolina Alves, Bruno Bonizzi, Annina Kaltenbrunner, Kai Koddenbrock and Jeff Powell. The article (open access) outlines a research agenda for understanding international financial subordination by drawing on the heterodox traditions of dependency theory, Marxism, and Post-Keynesianism.

Categories
Economic Development Podcasts

New podcast series: Hierarchies of Development

I recently started a podcast, along with my co-host Basile Boulay! The Hierarchies of Development podcast offers long format interviews focusing on enduring global inequalities. Conversations focus on contemporary research projects by critical scholars from across the world that help us understand how and why structural hierarchies persist.

We have two episodes out so far:

Episode 1: Environmental hierarchies

In the first episode we speak to Tejal Kanitkar (National Institute of Advanced Studies in Bangalore, India) and Leon Sealey-Huggins (University of Warwick, UK) about climate change and environmental hierarchies. Join us to learn more about the COP26, the racialised dimension of climate change, the issues around the concept of sustainability, and much more.

Episode 2: Labour hierarchies

In this second episode we speak to Rosa Abraham (Azim Premji University, India) and Lucia Pradella (King’s College, London, UK) about their respective work on the Indian labour market and the political economy of work in the Mediterranean region. Join us to reflect on some key contemporary issues surrounding work and migration, including the role of gender and imperialism.

Follow the podcast on your preffered platform to get information on the next few episodes (see here).

The podcast is supported by King’s College, London, the European Association for Development Research and Training Institutes (EADI) and the Developing Economics blog, with special editing support from Jonas Bauhof.

Categories
Blog Decolonizing Economics Teaching

Two blog posts on decolonizing teaching

What does it mean to decolonize teaching? This is one of the many questions we’re grappling with in Diversifying and Decolonising Economics (D-Econ). Along with Ariane Agunsoye and Michelle Groenewald, I recently put down some thoughts in a two-part blog:

It’s the start of a new blog series by the great D-Econ blog team called Decolonising Economics: Teaching and Pedagogy.

Categories
Blog Decolonizing Economics Dependency theory Economic Development Heterodox Economics Imperialism Marx

Beyond Eurocentrism (essay)

I recently wrote an essay about Samir Amin for the popular magainze, Aeon. In it, I go through what I think are major lessons from Samir Amin that can help us understand imperialism, Eurocentrism, uneven development, and ideology better. I contrast his structural and materialist analysis of capitalism and imperialism with the culturalist views of Edward Said, as Said has received much more attention in both academia and in the public sphere. Read the essay here.

Read a Spanish translation of the article here (Letras Libres).

Categories
Blog Decolonizing Economics

Galileo and neoliberal academia: a critical assessment of UK higher education (blog post)

Along with my colleaborator Surbhi Kesar I recently wrote a blog post for Diversifying and Decolonising Economics (D-Econ) on the ongoing industrial dispute in UK higher education, linking it the to wider structural problems of marketisation, privatisation, commodification, and decolonisation.

 

Categories
Africa Book review Decolonizing Economics Imperialism Marx Publications

Colonial legacies and racial hierarchies in the global economy (review essay)

I had the privelege of publishing a review essay of two books in the most recent issue of Race and Class (2022). I review the important contributions and radical potential of Adom Getachew’s Worldmaking after Empire (2019) and Franklin Obeng-Odoom’s Property, Institutions, and Social Stratification in Africa (2020), and outline some ways in which their analyses and frameworks could be expanded along anti-colonial Marxist lines.

Read the full review here.

Categories
Book review Decolonizing Economics Dependency theory Development Finance

Money Power and Financial Capital from a Decolonial Perspective (book review)

I reviewed Ilias Alami’s book Money Power and Financial Capital in Emerging Markets for a book symposium organized by Afronomicslaw. In the review, I link the book’s approach to debates about dependency theory and decolonizing economics. Read the review here.

Categories
Dependency theory Imperialism In the media Podcasts

On the Work of Samir Amin (podcast)

I recently spoke to Lev Moscow on the A Correction podcast about the life and work of Samir Amin. Listen here.

Categories
Dependency theory Development Finance Economic Development Publications

International financial subordination: a critical research agenda (working paper)

I have a new working paper in the Greenwich Papers in Political Economy series with the fabulous and rich co-author team: Ilias Alami, Carolina Alves, Bruno Bonizzi, Annina Kaltenbrunner, Kai Kodddenbrock and Jeff Powell. Together we’ve been working on systematizing and defining a critical research agenda on international financial subordination for a while now. We welcome feedback.