Planet Money
Summer School 8: Big ideas and life lessons from Marx, Keynes and Smith and more
Aug 28, 2024
Celebrate graduation with a fun quiz and key economic insights from history's greatest minds. Reflect on the last 50 years, revealing the paradox of progress with rising carbon emissions alongside declining poverty. Discover how agricultural innovations have dramatically reduced hunger in developing nations. Dive into the contrasting views of Smith and Marx, showcasing their relevance today. Finally, honor the legacy of Sadie Alexander and other pioneers who reshaped the understanding of economics and citizenship rights.
32:48
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Quick takeaways
- The podcast highlights the significant progress in reducing global poverty alongside the severe environmental challenges that threaten future economic stability.
- Various economists stress the importance of balancing self-interest with moral responsibilities in economic systems to ensure equitable solutions for society.
Deep dives
The Economic History of Progress and Challenges
The podcast emphasizes the dual nature of economic history, acknowledging that while significant progress has been made over time, it has also come with serious challenges. Over the past 50 years, for example, global poverty has decreased dramatically from over 60% to below 10%, showcasing effective economic growth and improvement in living standards. However, this progress has coincided with pressing issues such as rising carbon emissions, which have more than doubled, leading to severe implications for climate change. This juxtaposition highlights the persistent question: can ongoing economic development continue without exacerbating existing environmental crises?
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