Economic perspectives from the global south and why they matter for economics worldwide

Abstract

Whereas in economic policy institutions, diversity is clearly emerging in senior positions as well as in policy advise, in academia this is much less the case. However, economics has been enriched through standpoints from the global south that recognise the historical and today's structural inequalities in the world economy. This paper discusses such postcolonial standpoints. In particular, economic perspectives representing standpoints from the global south with key economists who have contributed importantly to the diversification and improvement of our discipline. The focus is on development economics, as that is the field where most progress has been made, based on real-world experiences and interpretations of south-based economists. These economists include Raul Prebisch, Luiz Carlos Bresser-Pereira, Jayati Ghosh, Thandika Mkandawire, Gita Sen, Noeleen Heyzer, and Bina Agarwal.