Overrated or Underrated in Development Economics?

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Economists have to appeal to a broader audience, and our science has to be solid. Publishing in the top five journals is a good discipline but if it becomes an obsession we don't communicate with the rest of the world. Sometimes fads really determine who can get published and what can get published in top five journals. We should also value people who are able to reach abroad or think outside the box.

What determines the economic, social, and political trajectories of nations? Why were settlers in colonies like Jamestown and Australia able to escape the extractive systems desired by their British masters, while colonial subjects in Barbados and Jamaica were not? In his latest book, Daron Acemoglu elevates the power of institutions over theories centering on human capital, culture, or geography. Institutions help strike the balance of power in the constant struggle between state and society, creating a ‘narrow corridor’ through which liberty and prosperity is achieved.

Daron joined Tyler for a conversation about drivers of economic growth, the economic causes and effects of democratization, how Germanic tribes introduced “bottom-up politics” to the Roman empire, the institutional reasons that China’s state capacity and control has increased with its wealth, his predictions for the future of liberty in his birth country of Turkey, the biggest challenges currently facing the Middle East, what we can learn from the example of Lagos, why publishing in the “top five” is overrated, tips on motivating graduate students, and more.

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Recorded October 25th, 2019 Other ways to connect

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