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13min chapter
E89: Economics as a Science w/ Noah Smith
"Upstream" with Erik Torenberg
Economic Divergence: Institutions and AI
This chapter examines the economic disparities between North and South Korea while analyzing the historical impact of institutions on wealth distribution. It debates the roles of human capital versus institutional development in former colonies and critiques the empirical support for economic theories associated with Nobel Prizes. Additionally, the discussion extends to the effects of AI and automation on job markets, highlighting differing empirical results and the challenges of verifying theoretical claims.
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