Decolonizing Economics

We're taught to think of economics as an objective truth. But what if economics isn't neutral at all? What if it's a story shaped by power and by a history that has been carefully edited? A story that celebrates innovation and progress while quietly erasing extraction, exploitation, and the violence behind how wealth became concentrated geographically. In this episode of Art of Citizenry Podcast, Manpreet Kaur Kalra speaks with economist Carolina Alves about colonialism, capitalism, development economics, and the Eurocentric foundations that continue to shape global economic policy today. Together, they unpack how mainstream economics often separates markets from history, obscuring the role colonial extraction, slavery, and unequal trade played in building modern wealth. From informal labor markets to communal economic models rooted in reciprocity, this conversation challenges the idea that Eurocentric economic systems represent a universal path toward prosperity. 📌 Note: Due to some audio quality challenges during the recording, we’ve included transcript excerpts to help listeners follow the conversation and engage with the ideas discussed in the episode — visit: artofcitizenry.com/podcast/decolonizing-economics We explore: What it means to challenge the Eurocentric assumptions embedded within mainstream economic theory Why GDP and economic growth became dominant measures of success How development economics emerged during the decolonization era Why many Global South economies remain structurally dependent within the global economic system The tension between economic growth and inequality under capitalism and whether inequality is a flaw within capitalism or structurally embedded within it "Decolonizing economics is about something more foundational than representation. It’s about repositioning the vantage point entirely.” – Carolina Alves Carolina Alves is Associate Professor in Economics at the Institute for Innovation and Public Purpose (IIPP) at University College London, and a Fellow in Economics at Girton College, University of Cambridge.  Read: “Decolonizing Economics: An Introduction” by Devika Dutt, Carolina Alves, Surbhi Kesar, and Ingrid Harvold Kvangraven,  📌 Support the Podcast: Art of Citizenry is proudly independent. Support us as we critically explore, challenge, and unravel mainstream narratives by empowering listeners with accessible, nuanced perspectives. Contribute via Paypal: https://visit.artofcitizenry.com/paypal Substack: https://artofcitizenry.substack.com Follow the show on Instagram: https://www.instagram.com/artofcitizenry Follow Manpreet on Instagram: https://instagram.com/manpreetkalra Explore past episodes of Art of Citizenry Podcast: https://www.artofcitizenry.com/podcast For more, you can find the full show notes of every episode at https://www.artofcitizenry.com/episodes