The Henry George School Podcast

Today’s episode will be part of a 3-part series where I, your host, Nathan Greene, interview a group of my current professors here at Clark University.

I want to preface this series by asking you what you think development is. Currently, I’m in my last semester of a master’s in International Development at Clark University, where I’ve begun to question my own assumptions of what development is.

I was first introduced to this concept of development in my economic growth and development course at St. John’s University. There, we explored how economic growth led to improvements in living standards that allowed people to achieve their full potential. This is what Nobel Laureate, Amartya Sen, calls his capability approach: when societies are able to produce the conditions necessary for people to flourish.

But, since coming to Clark, my idea of development has changed. I began to separate economic development from general development. Growth wasn’t always desirable, and could even lead to entrenched inequalities, environmental degradation, or accumulation by dispossession. So I want to ask you again, what does development mean to you? Is it different from economic growth? Are the two mutually exclusive? And, should we even strive for economic growth?

To answer these questions, I’ve enlisted the help of three of my professors, who have helped shape my understanding of development. The first person we’ll be speaking to is Dr. Jude Fernando, who will tell us about his research on Microfinance and small-scale solutions to societal improvement. The second person we’ll speak with is Dr. Denise Bebbington to get a macro-level understanding of the impacts of economic growth. We’ll then conclude with Dr. Dave Bell, who will give us a more metaphysical analysis of development and how the concept has changed over time.

Dr. Jude Fernando is currently a professor at Clark University and has held professorships at multiple institutions such as the University of Arizona, Dordt College, and the University of Colombo in Sri Lanka. His research work focuses on Microfinance and the role NGOs play in development. His research has earned him consulting roles at global institutions such as the International Fund for Agricultural Development, the Asia Foundation, and the World Bank. Dr. Fernando is the founder of the Alfa Children and Youth Training Institute in Sri Lanka, an NGO established to help children impacted by the Southeast Asian Tsunami of 2004. He has written many journal articles and book contributions but is also the author of The Political Economy of NGOs: State Formation in Sri Lanka and Bangladesh. Dr. Fernando earned his bachelor's degree in applied economics from the University of Peradeniya in Sri Lanka; and his PhD in economics, anthropology, and south asian history from the University of Pennsylvania.

For today’s episode, we’ll discuss Microfinance and its criticisms, small- versus large-scale change, and why economists should rethink the importance of the solidarity economy.

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