51本色 – Page 14 – A Critical Perspective On Development Economics

The Nobel Prize winner that predicted a crisis between nature and capital

December 27, 2021December 27, 2021 Erik ReinertLeave a comment

Since 1901, December has been a time for Nobel Prizes. Only in 1969, as an afterthought, the Swedish Central Bank established the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 鈥� a decision that was met with protests by some members of the Nobel family.

Nevertheless, a scientist who used much of his time on economics was rewarded a Nobel Prize in 1921. Admittedly, Frederick Soddy (1877鈥�1956) received the prize in chemistry, for his work on radioactivity. But in the period from 1921 to 1934 Soddy wrote four books campaigning for a radical restructuring of the global monetary system.

I have been leafing through Soddy鈥檚 book entitled, 鈥楳oney versus Man鈥�, published in 1931. The book opens with a full-page quote from another English polymath, John Ruskin (1819鈥�1900). The social problems of England in the 1840s 鈥� 鈥楾he Hungry 40s鈥� 鈥� and the financial crises that followed in 1847 inspired Ruskin. The mass deaths in World War I and the crisis that started in 1929 provided new inspiration to Soddy.

For Ruskin, and later Soddy, consumption was the only purpose of the economy. 鈥楾here is no wealth but life鈥� is the basic message in Soddy鈥檚 long quote from Ruskin. It is on this basis we should read the title of Soddy鈥檚 book, placing money as a kind of enemy for humankind. Here is a new type of economics: we have standard neoclassical economics, based on the metaphor of equilibrium between supply and demand, and we have evolutionary (Schumpeterian) economics based on a metaphor from biology (innovations as mutations). Soddy offered us a third angle: economics rooted in physics, in the laws of thermodynamics.

Green financialization and de-risking in Zambia鈥檚 renewable energy transition

December 16, 2021December 10, 2021 Simone ClaarLeave a comment

By Simone Claar and

Zambia鈥檚 has a history full of hopeful prospects and broken dreams. In the 1980s and again in the early 2010s, Zambia experienced an economic upswing. Labelled as an emerging middle-income country and called the new 鈥�, a mix of copper extractivism, an aspiring tourism sector, as well as political stability led to an impressive rise. However, the phase was short-lived, as Zambia’s political economy remains fragile: dependent on the price of copper and the world market, it is regularly on the verge of state bankruptcy due to a significant burden. A history of structural adjustment programs in exchange for IMF loans and dependency on billion-scale Chinese loans means that Zambia became the first African country to declare bankruptcy in the wake of the Covid pandemic, first asking for a moratorium, and later for restructuring its Eurobond loans and Chinese loans. In this context, Zambia’s dependence on development financing is highly evident and deeply anchored in the state structures. Zambia’s political economy of energy and the ongoing energy transition reflect this tedious situation. Rising energy demands and lack of investment mean that widespread load shedding has become a frequent phenomenon. Climate change and recurring droughts negatively affect hydropower performance, which makes up 95 per cent of installed capacity. The current roll-out of renewable energy is a beacon of hope. Nevertheless, its financial structures give rise to the assumption that Zambia may also be the first African state where the miracle of green capitalism and “white magic” () is becoming manifest, resulting in both shiny solar panels and a loss of political and economic sovereignty. Analyzing Zambia’s energy transition’s political and financial toolbox, we delineate how green financialization and de-risking are executed based on blended development finance.

Constructing a Global History of Human Rights and Development

December 13, 2021December 8, 2021 annagrimaldiLeave a comment

The history of global human rights has been, as Joseph Slaughter puts it: 鈥渉ijacked鈥� by Euro-American narratives (Slaughter, 2018). It has been claimed, through history books and the institutional memory of bodies such as the United Nations or Amnesty International, that human rights can be traced back to documents such as the Magna Carta, that they were intellectually developed and promoted globally through the ages of Enlightenment and Imperialism, and that they were enshrined in the Universal Declaration of Human Rights of 1948.

Even in recent decades, attempts to frame and conceptualise the latest milestone of human rights, which took place at the height of globalisation in the 1970s, was a Western 鈥榬evival鈥� or 鈥榬ediscovery鈥� of human rights as a transnational tool through which states could be held accountable for their violation of rights. Crucial reference points for scholars today include the so-called 鈥楬uman Rights Utopia鈥� of the 1970s (see Moyn, 2010) or the development of 鈥楴ew鈥� Human Rights two decades later (see Nelson & Dorsey, 2008). To reconstruct the past, scholars often seek changes in the discourse of global institutions; they analyse the most widely reported human rights movements; they call upon the emergence and establishment of organisations such as Amnesty International; they run keyword searches of major international newspapers; and they look to the political discourse of major global players, all of which are largely based in the Global North.

No wonder, then, that the major turning point of the transnational human rights movement is so precisely associated with the year of 1977, when Amnesty International won the Nobel Peace Prize and US President Jimmy Carter incorporated human rights into the country鈥檚 foreign policy. The so-called utopia that was set forth during this transformative moment in history was that human rights came to represent an alternative to anti-establishment movements against US imperialism and consumerism. It also represented an alternative to socialist states, which for many of the Left was proving to be a disappointing avenue for meaningful change. A transnational social movement of solidarity was also imagined as the key to holding states accountable for the human rights violations of their own citizens.

The result of this revisionist history is not only an incomplete picture, but what Walden Bello calls “the [structural] resubordination of the [Global] South within a US-dominated global economy鈥� (Bello, 1994 cited in Slaughter, 2018). As the agency of Global South-identifying actors is denied, so is their role in shaping what today are known as rights of self-determination, sustainable development, peace, minority, and rights to natural resources and the environment, among other things.

Yet there exists an alternative history to human rights that has been obscured through attempts to narrate the past. This history has been prevented from entering the debate, I would argue, for three key reasons: first, dominant historical narratives emphasise actors and institutions of the Global North as the leading protagonists in the process of the construction of human rights. Second, and as a result of the first, methodological approaches have been limited by what is perceived as the spaces within and through which concepts and practices of human rights are constructed and diffused globally. Third, potential alternative sources of ideas surrounding human rights and their global diffusion are and have almost always been brushed aside as anything but potential sources of human rights: they have been labelled as socialist, anti-colonialist, anti-imperialist, and even terrorist, none of which could possibly be compatible with human rights.

But the issue does not stop at asking the right questions. The problem cannot be solved simply by asking whether and if so what Global South actors and organisations contributed to human rights norms, concepts, and practices, but also how they did so. And this requires returning to the drawing board methodologically. If potential contributions do not take place within dominant institutions, state-to-state dialogue, and major international organisations, then we need to look beyond these spheres for our evidence.

Living in the shadows of Dubai

November 29, 2021December 8, 2021 Jonathan NgehLeave a comment

Figure 1:. Dubai Marina, an affluent residential area in New Dubai. Photograph by Jonathan Ngeh, 2015.

By achieving economic success while embracing market friendly policies: lower taxes, free trade, privatization and deregulation, Dubai has earned the reputation as a neoliberal success story. As it is typical of neoliberal economic policies, economic growth has not trickled down to the people at the bottom of the socio-economic pyramid. Rather, inequality has been reenforced, and Dubai consists of two distinct parts: 鈥極ld鈥� Dubai housing and representing the distressed and economically disadvantaged, and 鈥楴ew鈥� Dubai where the economically and politically powerful live (see Figure 1 and 2).听 Existence of poverty alongside wealth puts pressure on both poor and rich city residents. Among the poor, the kind of pressure they face usually is related to the lack of money to provide basic needs for themselves and their dependents, as highlighted in Dawson鈥檚 remarks on Johannesburg (Dawson 2020). On the other hand, the rich (and also the poor) face pressure caused by challenges that are psychological or social or both. Drawing on ethnographic fieldwork with mostly African migrants in Dubai in 2015 and 2020, focusing particularly on their housing and labour market conditions, this piece鈥檚 central argument is that the extreme inequality in Dubai puts economic pressure on low-income migrants, the city鈥檚 poorest residents, while the juxtapositions of poverty and wealth right next to each other exert psychological pressure on the wealthy by instigating fear of low-income migrants because of crime concerns.

Figure 2: Deira, a district in Old Dubai where many low-income migrants live. Photograph by Jonathan Ngeh, 2015.

With migrants accounting for over 80 percent of the population in Dubai and the UAE (de Bel-Air 2015, United Nations Department of Economic and Social Affairs 2019), the city and country stand out as a leading immigration destination in the world. While some of the Africans I encountered in the UAE travelled for studies or tourism, the vast majority of them had migrated for economic reasons鈥搃n search of employment or with the intention to establish their own businesses. Convinced by the prospects of greener pastures in Dubai, these economic migrants spent their savings to pay for the migration journey. In some cases, migrants or family members borrowed money at high interest rates to cover the cost of migration. In either case, the financial obligations of African labour migrants in Dubai increased because of migration. Upon arrival in Dubai, they were shocked to realise that opportunities are limited and the living conditions for the majority of migrant workers are unbearable.

聽A 笔别辞辫濒别鈥檚 Green New Deal: A Symposium

November 26, 2021November 25, 2021 51本色1 Comment

Max Ajl鈥檚聽A 笔别辞辫濒别鈥檚 Green New Deal聽intervenes in current debates regarding green planning, green future, green stimuli, and eco-socialism. It surveys a wide range of existing literature on the ecological and social crisis, ranging from ruling-class 鈥済reat transitions,鈥� to eco-modernist聽elixirs聽of聽the聽right and聽the聽left which bank on technological solutions to today鈥檚 social and ecological problems. It then considers and聽critiques an array of liberal, left-liberal, and social democratic proposals, some of them going under the eco-socialist moniker, and shows how they rest on continued exploitation and primitive accumulation of the periphery.听

A 笔别辞辫濒别鈥檚 Green New Deal contributions lie in, first, using frameworks of dependency theory, accumulation on a world scale, and ecologically uneven exchange to illuminate the costs and consequences of distinct approaches to the climate crisis, left and right. Second, the book鈥檚 emphasis on agriculture, land use, and agro-ecology makes it unique amongst books on the Green New Deal and parallel debates. Its emphasis on decolonization, national sovereignty, anti-imperialism, and climate debt repayments from the North to the South is a third contribution. A fourth is how it deals with technology.

This review forum assesses the contribution of聽A 笔别辞辫濒别鈥檚 Green New Deal.听Sakshi 蝉颈迟耻补迟别蝉听APGND聽in terms of a counter-epistemology to Eurocentric and empire-blind resolutions, if not really solutions, to the social and ecological crises to which mainstream Green New Deals are addressed.听Sheetal Chhabria 补蝉蝉别蝉蝉别蝉听APGND鈥檚 contribution to thinking on a planetary scale about appropriate planning for a just transition, while criticizing the book鈥檚 uncritical embrace of certain Indian nationalist tropes. G眉ney I艧谋kara raises questions regarding political agency and organization, the role of national-level planning in any form of national-level green transition, and how to approach anti-imperialism on a world scale.听聽

Read the contributions:

Beyond Green Restoration: An Eco-Socialist GND

November 26, 2021November 25, 2021 G眉ney I艧谋karaLeave a comment

Following the resolution introduced by Alexandria Ocasio-Cortez and Ed Markey, the term Green New Deal (GND) has become the gravitational center of climate action debates. On the one hand, conservatives, as well as some leftist circles, designate the AOC-Markey resolution as 鈥渟ocialist鈥�. On the other hand, the term GND was first made public by Thomas Friedman in his NY Times column as a capitalistic and patriotic project which serves as 鈥渢he basis of a new unifying political movement for the 21st century鈥� (p.4). It comes as no surprise that so much political confusion accrues around the concept of a GND.

Max Ajl鈥檚 A 笔别辞辫濒别鈥檚 Green New Deal is the best leftist response I have read to the discussions whirling around this notion. It is clear-minded and well written. Politically, it constructs a consistent, uncompromising, anti-imperialist vision, well aware of the fact that tamed horizons are easily coopted and rearticulated by the ruling classes thanks to the elasticity of capital accumulation. Theoretically, its foundations are found in the 鈥渋nherently polarizing鈥� frameworks of dependency theory, world-system analysis, and (environmentally) unequal exchange (p.14).

Ajl evaluates GND proposals not only on the basis of targeted changes in physical production, but also in terms of their systemic implications. Some GNDs aim to preserve or strengthen capitalism, while others are designed to attack or abolish it (p.3). Correspondingly, the book is divided into two parts. The first one is concerned with what Ajl calls Capitalist Green Transitions (p.16) or 鈥渞uling class agendas鈥� (p.20), while the second part sketches his vision of a 笔别辞辫濒别鈥檚 Green New Deal.

Debunking the “Eco-Fortress Nationalism” of the AOC/Markey Green New Deal

November 26, 2021November 25, 2021 sheetalchhabriaLeave a comment

tractor, tiller, tilling, equipment, agriculture, karnataka, india, transportation, mode of transportation, land, land vehicle, field, one person, landscape, agricultural machinery, day, nature, rural scene, plant, environment, driving, farm, dirt, agricultural equipment, outdoors, farmer, 4K

Photo: Farming in Karnataka, India.

Max Ajl鈥檚 笔别辞辫濒别鈥檚 Green New Deal is a brutal reminder for the American left that even the most celebrated and progressive developments in American politics are still simply American politics, in other words they are a politics for America, and America first. Ajl situates both the longer history of environmental destruction and the response to it within a planetary frame without losing sight of geographical unevenness. The book is divided into two parts. The first part is where Ajl systematically debunks the American-centrism of the Cortez/Markey Green New Deal (GND). The second part is an imagination-widening exposition of an alternative 笔别辞辫濒别鈥檚 Green New Deal that centers the livelihood of the majority of the world鈥檚 people by putting forth an anti-imperial and anti-capitalist framework for a just transition.