Bronco: I think it's a very relevant tragically relevant point today which is the role of colonialism. We we desperately need to understand this to be able to talk intelligently about the world today. And you know there was a surplus that was made from colonial exploitation or colonial invasions and so history is present all the time now. Bronco: Anyone who says history doesn't matter is not paying attention because it's all we're talking about right now in America.
Author and economist Branko Milanovic of CUNY talks about the big questions in economics with EconTalk host Russ Roberts. Milanovic argues that the Nobel Prize Committee is missing an opportunity to encourage more ambitious work by awarding the prize to economists tackling questions like the rise of China's economy and other challenging but crucial areas of scholarship. In the conversation, he lays out what those questions might be and discusses what we know and don't know in these areas.