Economics & Finance / Economic Theory / Development Economics
Why Western Economics Failed the Global South: The Shocking Truth About Development Studies
A Southern Perspective on Development Studies
Did you know that the economic theories you learned in school are just special cases for Western crises, not universal truths? In this video, we dive into Carlos Mallorquin's groundbreaking book, 'A Southern Perspective on Development Studies.' He reveals how Latin American structuralists like Raúl Prebisch and Celso Furtado exposed the false universality of mainstream economics. From GDP data manipulation hiding imperial control to the real cause of inflation being class warfare, we unpack the hidden power dynamics behind development. This isn't just theory—it's a radical rethinking of how we view global inequality. Watch to understand why the 'Washington Consensus' is a dead end and what a real Southern perspective looks like.
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