October 16 2024 - Differences in Prosperity Between Nations

The Nobel Prize in Economics for 2024 has just been awarded to Daron Acemoglu (Massachusetts Institute of Technology), Simon Johnson (Massachusetts Institute of Technology), and James Robinson (University of Chicago). Their work has demonstrated the importance of societal institutions for a country’s prosperity. Societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better. Today's podcast has a short discussion of their work.