Fadhel Kaboub is a former Associate Professor of Economics at Denison University where he researched political economy, decarbonisation, colonialism, and the financial and agricultural policies necessary to facilitate a global—and just—green transition. Since recording, Fadhel has been appointed Under-Secretary-General for Financing for Development at the international intergovernmental organisation, Organisation of Educational Cooperation.

This episode is thrilling. Fadhel explains the traps of inflation, debt, globalisation, and the financial and agricultural policies weaponised by the global north to exploit the global south. He walks us through the three structural traps which keep wealth pouring out of the global south into the global north, amounting to modern colonialism. And he explains why we can afford a just transition, revealing the exciting mechanisms of Modern Monetary Theory by exploring the solutions global south countries can implement to ensure their sustainable development.

"You can't decarbonise a system that hasn't been decolonized yet, economically speaking. Similarly, you can't democratise a system that hasn't been decolonised yet.

Because you can't meet the aspirations of your people and meet their needs in terms of food or housing or quality of life if your economic paralyses you and prevents you from serving those needs, and requires of you to serve the needs of the global supply chains in manufacturing or energy and so on."

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© Rachel Donald