FRIDAY we have our Closing Plenary (in collaboration with @ysi_commons) on Heterodox Economics - Perspectives from the Global South, featuring Prabhat Patnaik, @LuGuangMing and @ymadra (details below).
The closing plenary is followed by a final panel on #COVID19 & the Global South w/@salimahvaliani, Nithya Joseph, G. Venkatasubramanian, Isabelle Guérin, Nithya Natarajan, Fiorella Picchioni, @VincentGuermond, Milford Bateman & Sonia Cerón.
Just seeing the RCT 'scandal' brewing among econs again. This is not a question about some bad apples or some instances of malpractice. The RCT industry has been completely distorted from its inception in Econ and this is closely tied to the incentive structure of the discipline.
There have been loads of papers through the years calling out the lack of rigor in experiments by 'top' randomistas. The response by randomistas has consistently been to ignore any fundamental critique and to keep going. So it's unsurprising that 'scandals' keep re-emerging.
One reason is that randomistas place more emphasis on second stage data analysis (the econometrics), while rigorous data collection seems to be given less priority. Bédécarrats, Guérin, and Roubaud (2020) have a very good chapter on this (open access) academic.oup.com/book/31966
Here is our commentary on how the 2024 Economics Nobel integrates colonialism into economics, while leaving a colonial worldview intact (with @SurbhiKesar & @devikadutt). To explain how & why they do this, we go back to the colonial origins of economics. epw.in/journal/2024/4…
As Econ is increasingly being challenged for not adequately dealing with issues of racialization & imperialism, the "colonial turn" in economics that AJR represent seems to offer a defense. But they don't deal with the fundamental problem: the Eurocentric view of capitalism.
A Eurocentric view is one that assumes the development of capitalism evolved in the global North in a rational manner, based on a range of internal factors, distracting from the violent processes of exploitation & colonial extraction that shaped development & underdevelopment.
After the intro by @pritishbehuria & @GoodfellowTom (linked to above), you can read the interventions summarized in chronological order.
I was up first, focusing my intervention on the problem of lack of South-centered theorisation in development studies devstud.org.uk/2023/02/28/the…
Next up was @Kamnatweets, calling for a deliberate deconstruction of our projections of 'development', picking apart the 'black box' & reckoning with the range of political causes UK Development Studies programmes serve, intentionally or unintentionally, devstud.org.uk/2023/02/28/loo…
Building on scholarship by Amin, Quijano, Sanyal, and feminist IPE, we see a radical decolonization agenda as one necessitates unpacking how dominant approaches may hinder the study of systemic processes associated with decolonization, such as structural racism and imperialism.
This entails analyzing and challenging Eurocentrism in economics, but also seeking to foreground theoretical frameworks which might be more useful for studying systemic processes that lead to various form of subordination.
We engage with 2 main camps in the financialisation lit: 1) largely descriptive studies of how financial institutions, actors, motives & practices have expanded in recent decades (e.g. Krippner, Epstein), focusing on quantitative changes.
We call it the 'expansion' view.
2) More qualitative studies of how finance has come to dominate other realms of the economy, which often see the productive marriage between finance and production as in severe crisis, as the golden age of capitalism has come to an end. We call it the 'divorce' view.