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All content following this page was uploaded by Mohammad Azaharuddin Ansari on 29 November 2023.
Abstract
Development has conventionally been interpreted in terms of economic growth since
economic growth is considered as the engine of development. This thesis has its roots in
classical trickle-down theory according to which wealth accumulated by entrepreneurs
necessarily trickles down to the bottom strata of society. To achieve this end of higher
economic growth, neoliberal economic policies are accepted as the most effective means.
This understanding of development has been dominant in both, academic and policy-
making domains. With the help of neoliberal ‘dispositif ’, countries of the world undoubtedly
managed to maintain or achieve unprecedented higher rate of economic growth, but
this was not without cost. Obsession with higher rate of economic growth has itself bred
several issues like concentration of wealth, bio-diversity loss, sea-level rise, global warming,
deforestation etc. that are now posing grave threat to humanity. This flip side of traditional
growth-oriented development disillusioned a section of scholars as well as decision-makers
around the world. It was that disillusionment that ultimately crystallized in the birth of new
paradigm of sustainable development, a human-centric, inclusive, environment friendly
and equity-based development. The paradox is that this new model of development too is
being sought to achieve within the same neoliberal institutional framework, the very tenets
of which are at add with the aims of sustainable development. This research paper aims
at exposing the inherent contradiction that lies within neoliberal philosophy in respect to
sustainable development.
Key words: Hyper-consumerism, environmental degradation, inequality, neoliberal
economic policies, populism, sons of soil.
INTRODUCTION
Development is one of the most controversial concepts of the academic world and
it is this feature that makes it an “essentially contested concept”. It is different thing for
different people. The concept of development has been defined with several perspectives.
Literally, development refers to ‘advancement’ or ‘progress’ thus in order to produce a
sense, it is essential to use any specific adjective before it i.e. economic development,
social development and so on. Traditionally, in the discipline of economics, the concept
of development has been referring to economic development or economic growth. Thus
in academic, it is known as growth- oriented theory of development in which growth in