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2min chapter
Why the Nobel Prize in Economics went to Acemoglu, Johnson and Robinson
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The Lingering Effects of Colonialism on Economic Systems
This chapter examines the detrimental effects of colonialism on economic systems, particularly in India, by highlighting how extractive institutions obstructed growth. It discusses the challenges faced by new leaders in reforming these exploitative systems due to a commitment problem and underscores the need to recognize historical context for effective economic recovery.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode