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Bhumika Muchhala

Bhumika Muchhala

Political economist and Senior Advisor at Third World Network, and Adjunct Professor at The New School, specializing in global economic governance, feminist economics, and decolonial futures.

Jul 28, 2026

14:03
point.
14:03
I think it's necessary to ground this analysis of the problem of neoclassical economics for the Global South within a historical reality, within a historical and political context.
14:18
And I think I'll focus on two aspects, that of unequal exchange and that of international financial subordination to just flesh out how neoliberal and neoclassical economics works.
14:34
through the genealogy of the Chicago School of Economics takes shape.
14:38
So I think the first starting point, if I may, is to really go to the advent of neoliberalism to understand how global inequalities are shaped.
14:51
So neoliberalism... is a very coherent political and economic construction.
15:02
There is a kind of popular understanding that it was created or really came about during the debt crisis of the 1980s, during the Reagan-Thatcher era, beginning in the late 1970s, But a lot of literature in international political economy and global governance really situates the origin of neoliberalism in the geography of the Western Europe during the interwar period of the 1920s and 1930s.

15 MINS LATER

30:16
So can you talk a little bit more about what some of those rules, those mechanisms are?

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