International Journal of Social Science & Economic Research
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Title:
THIRD WORLD APPROACHES TO DEVELOPMENT ECONOMICS - CRITIQUING EUROCENTRIC THEORETICAL MODELS IN SOUTH ASIAN CONTEXTS

Authors:
Adhiraj Chhina

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Adhiraj Chhina
The British School, New Delhi

MLA 8
Chhina, Adhiraj. "THIRD WORLD APPROACHES TO DEVELOPMENT ECONOMICS - CRITIQUING EUROCENTRIC THEORETICAL MODELS IN SOUTH ASIAN CONTEXTS." Int. j. of Social Science and Economic Research, vol. 5, no. 6, June 2020, pp. 1636-1642, ijsser.org/more2020.php?id=114. Accessed June 2020.
APA(6)
Chhina, A. (2020, June). THIRD WORLD APPROACHES TO DEVELOPMENT ECONOMICS - CRITIQUING EUROCENTRIC THEORETICAL MODELS IN SOUTH ASIAN CONTEXTS. Int. j. of Social Science and Economic Research, 5(6), 1636-1642. Retrieved from ijsser.org/more2020.php?id=114
Chicago
Chhina, Adhiraj. "THIRD WORLD APPROACHES TO DEVELOPMENT ECONOMICS - CRITIQUING EUROCENTRIC THEORETICAL MODELS IN SOUTH ASIAN CONTEXTS." Int. j. of Social Science and Economic Research 5, no. 6 (June 2020), 1636-1642. Accessed June, 2020. ijsser.org/more2020.php?id=114.

References

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Abstract:
Development economics as a discipline has influenced the institutions which have fundamentally shaped policy globally, and charted solutions for economic growth. However, it is problematic that the theoretical foundations of this branch of economics originated from and continues to be Eurocentric and Western in its approach, viewing the 'Third World' or the Global South as beneficiaries of superior knowledge. Critical and third world approaches have emerged in strong dissent to these Eurocentric intellectual traditions, which have led to catastrophic economic consequences in poorer countries due to policy being applied in a historically and culturally neutral manner that does not suit the particular conditions of these countries. This paper attempts to shed light on the dire need to reform developmental economics in theory and practice, to account for culturally contextual approaches, indigenous knowledge, and depart from the neoclassical economic tradition of pursuing growth, GDP and profit in an unsustainable fashion.

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