This article is the Sixth Sam Moyo Memorial Lecture delivered by Professor Utsa Patnaik during the SMAIAS/ASN Summer School on January 16, 2023, in Harare. Professor Patnaik argues that the discourse in development economics is so completely dominated by fallacious ideas emanating from the conservative economics departments of universities in advanced industrial countries, and economists in the Global South tend to be so completely hegemonized by these fallacious ideas that they pay little or no attention to long-term trends in their own economies that impact adversely the welfare of the poorest of their own populations. A most important long-term trend—to be precise, the trend over the last four decades of neoliberal policies—has been the declining per capita consumption of food grains in countries of the Global South, associated with their increasing opening up to free trade under the incessant pressure of industrial nations.