Today, we are joined by Oded Galor, Professor of Economics at Brown University, for a conversation on how we can explore and uncover new ways of thinking about the economy, based on his book “The Journey of Humanity: The Origins of Wealth and Inequality”. We discuss inequality from a historical aspect and the roots of human behaviour, the Malthusian trap and how the industrial evolution has impacted humanity and how geography, culture and diversity is a key factor in achieving equality. We also address the costs and benefits of diversity within a society and how we need diversity to generate more growth and complex solutions, why China will be lef...
Today, we are joined by Oded Galor, Professor of Economics at Brown University, for a conversation on how we can explore and uncover new ways of thinking about the economy, based on his book “The Journey of Humanity: The Origins of Wealth and Inequality”. We discuss inequality from a historical aspect and the roots of human behaviour, the Malthusian trap and how the industrial evolution has impacted humanity and how geography, culture and diversity is a key factor in achieving equality. We also address the costs and benefits of diversity within a society and how we need diversity to generate more growth and complex solutions, why China will be left behind due to a lack of cultural fluidity, the process of measuring diversity, how we can improve going forward and much more.
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Episode TimeStamps:
00:00 - Intro
04:00 - Introduction to Oded Galor
07:29 - Fundamental insights from Galor’s book
09:49 - From Stagnation to Growth
21:22 - Education and the labour force
30:24 - The impact of longer-term structural forces
40:38 - Can new cultures emerge?
43:31 - How does diversity impact a society?
50:08 - Is China falling behind?
52:09 - How diversity should be measured?
59:11 - Galor’s advice for moving forward
01:06:00 - Key takeaways from Niels
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