From economic growth to the human: reviewing the history of development visions over time and moving forward

Abstract

As we face different crises–democratic, social and environmental–there is a need to rethink the assumptions we have made about sustainable development. This paper aims to consider alternatives to development and their fundamental connections to economics. Because discourse is connected to practice, it is important to question definitions. By drawing on existing theories, discourses and practices, I present an economic perspective to accompany post-developmentalist theories and contribute to the collective thinking on alternatives to development. Using the framework of Polanyi, I show that the mainstream view of development, based on a formal definition of economics, has not only failed to address the needs of many but also built a strong imbalance between the Global North and the Global South. A substantive view could be the basis for an alternative to development, relying on the relationship between basic needs, nature and institutions. Profound transformations are needed to balance the economy, society and the environment. To achieve these transformations, alternatives to development must involve rethinking structures, re-embedding the economy and considering the power of collectives and the multiplicity of ideas across the world.