You Can't Vote Away Colonialism
Economist Fadhel Kaboub explains why the Global South cannot thrive without first achieving structural economic decolonization – and why MMT is essential, but not sufficient, for the task.
** Join our community-building online gathering where we listen to the episode together and discuss it in a relaxed, supportive atmosphere. Tuesday, March 17, at 8pm ET/5pm PT. https://us06web.zoom.us/meeting/register/o3miFIPmSAC2d46Vh14iBA
One of our favorite guests is back to talk about the central problem facing much of the Global South. It is not simply bad policy or weak leadership, but the persistence of colonial economic structures. He explains that many countries, especially in Africa, remain trapped in roles designed by empire: exporters of cheap raw materials, importers of finished goods, and sites for low-value production. Political independence did not end these structures, and debt, IMF intervention, and external pressure have only deepened the trap.
“Colonialism and its economic structures were not designed for development, they were not designed for democracy, they were not designed for justice, they were not designed to produce a just transition or human rights or any of these things. If anything, colonialism and its economic structures were hierarchical, abusive, violent, extractive.”
Fadhel was one of the economists we originally turned to for our education in MMT. In this conversation with Steve he makes the case that MMT is not a theory of everything. Issues of race, class, and colonialism require their own lenses. Whether the issue is climate change, migration, development, or reparations, the entry point has to be the lived material conditions. MMT becomes crucial when the question turns to how to mobilize resources, avoid debt traps, and finance transformation without inflationary collapse.
Dr. Fadhel Kaboub is a Tunisian American economist. He is an Associate Professor of Economics at Denison University and president of the Global Institute for Sustainable Prosperity. He’s the author of Global South Perspectives on Substack. In 2025, Dr. Kaboub was recognized by the New Africa Magazine in the top 100 most influential Africans under the Thinkers and Opinion Shapers category. He currently serves a two-year term on the United Nations High Level Advisory Board on Economic and Social Affairs at UN DESA.
Find his work here on Substack at Fadhel Kaboub or @FadhelKaboub on X
This is one of the best episodes we have recorded. It both destroys that myth that MMT is irrelevant and also destroys the myth that we can vote away the things oligarchy is doing. Very very important episode. Please ensure you all share this widely
@FadhelKaboub teaches, we can't vote away colonialism.
Elections won't dismantle economic structures designed for extraction. Stop demanding better management of the colonial system. Start demanding its complete demolition. Real democracy requires structural #decolonization first. #revolution #learnMMT #eachoneteachone