Mancuroma and Whyl - Is Mancuromean Wil a Good Model?

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Stad: Human capital has a very high degree of explanatory power. If you get one more year schooling, your going to increase your earnings by about six % in the us,. perhaps as high as eight or nine% in some developing countries. And if there are no major human capital externalities, and we can come back to that, then, you know, that's going to increased your g p per capita by 25, 30%. That's a very small number relative to the s that we actually observe. Stad: Could it be that education is much, much larger than what we measure with mister regressions when we look at an individual's own earnings increasing? stad:

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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