Economics taught in most of the elite universities are practically useless in my context. My country is dominated by drug economy and a mafia. Textbook economics does not work in my context, and I have very few recommendations from anybody as to how to put together a legal economy.

Ashraf Ghani’s quote reflects his frustration with the limitations of textbook economics in addressing the unique economic challenges faced by his country. He points out that the economic theories taught in elite universities are practically useless in a context where the economy is largely driven by a drug economy and controlled by mafia networks. Ghani’s statement underscores the reality that standard economic models, which are often designed for stable, developed nations, may not be applicable in regions where informal and illegal economies dominate.

The mention of the drug economy and the influence of the mafia highlights the complexities of building a legitimate, sustainable legal economy in such a challenging environment. In countries where illicit industries play a significant role in the economy, the usual approaches to economic development can seem disconnected from the realities on the ground. Ghani emphasizes that traditional economic strategies do not offer the practical solutions needed to address the pervasive influence of these illegal activities and the absence of a formal economic system.

Ghani also laments the lack of recommendations or guidance on how to transition from an illegal economy to a legal economy. This reveals the difficulty of shifting economic systems in a country where the formal economy is weak or nonexistent, and where the informal sector, including criminal enterprises, fills a significant gap. Ghani's perspective speaks to the need for context-specific economic policies that can adapt to local challenges, rather than relying solely on global economic theories.

Ultimately, this quote illustrates Ghani’s critique of mainstream economic thought when it fails to account for the complex and often illegitimate structures that shape the economies of fragile states. His call for more practical and tailored solutions highlights the importance of considering local realities in the development of effective economic strategies.