I find often that people take an idea and carry it to an extreme. Geography obviously matters a lot. The world's complex. We're dealing with complex systems. And so it's not surprising that different things matter at different times in different places. So of course, institutions make a difference. But I've never said institutions don't matter.
Tyler Cowen and Jeffrey Sachs discuss the resource curse, why Russia failed and Poland succeeded, charter cities, Sach's China optimism, JFK, Paul Rosenstein-Rodan, whether Africa will be able to overcome the middle income trap, Paul Krugman, Sach's favorite novel, premature deindustrialization, and how to reform graduate economics education.
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