October 30, 2020

How development economics hijacked our fundamental narratives

In this article, Charles Eisenstein explores the flaws of the development narrative, and explains why development economics is inadequate and ineffective at offering a truly transformed social life. 

Development economics, for Eisenstein devalues the existing lifeways of people and forces them to conform to a system identified by a dominant power. It replaces a fully functional gift economy with an economy that relies on the financial sector – one in which the basis of power and capacity is measured only by money. 

Eisenstein continues that as long as the development economics narrative dominates our societies, the pressure to convert natural and social resources into commodities and services will not abate.

Eisenstein, clarifies, however, that any proposed change to an economic system will require one to assess the worldview on which the system rests. 

What is the worldview that prevents us from going beyond the development narrative? How may it explain the injustices present in our societies? 

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