Frameworks of Influence: Power Theory and Architecture of Growth

This chapter examines the intersection of economic growth frameworks and power dynamics, arguing that sustainable development cannot be fully understood or achieved without addressing systemic power asymmetries. It reviews traditional and contemporary growth theories—including classical, neoclassical, structuralist, endogenous growth, and institutional economics—while highlighting their limitations in capturing the influence of global, political, and institutional power structures on development outcomes. Through the lens of the Power Theory of Economics, the chapter explores how unequal access to finance, trade imbalances, and the disproportionate influence of developed nations, multinational corporations, and global institutions like the International Monetary Fund, World Bank, and World Trade Organization shape economic policies in developing nations. Case studies from Nigeria, Ghana, Zambia, Kenya, Mexico, Sri Lanka, and Venezuela demonstrate the profound impact of power asymmetries on trade, resource governance, and economic sovereignty. The chapter introduces the Integrated Development Model—a holistic framework aimed at promoting equitable growth, economic sovereignty, and sustainability. By integrating economic diversification, human capital development, governance, financial inclusion, and regional cooperation, the Integrated Development Model offers practical pathways for developing countries to navigate global economic pressures while fostering inclusive and resilient economies. Policy recommendations advocate for reforms in global financial governance, fair trade practices, and diversified financing, alongside stronger domestic institutions and regional alliances to counteract systemic imbalances. The chapter concludes that embedding power-sensitive approaches in economic policy is essential for achieving inclusive, sustainable, and sovereign development trajectories.