Decolonisation is a mode of thinking that encapsulates being sensitive to the power and privileges that are fundamental to current institutions, how they have been shaped over a period of time, and a recognition of the enslavement and exploitation of people and resources that have gone into constructing and maintaining the status quo.
Decolonial economics is a field that examines how colonial histories and power structures continue to shape today’s global economic systems. It challenges the western Euro-centric worldview, and instead seeks to reframe and reorient economic analysis to address, balance, and illuminate the silenced voices, experiences, and knowledge systems of non-western societies.